🇮🇳 India Quietly Tightens Crypto Oversight in Budget 2026:
India’s Union Budget 2026, presented today (1 Feb 2026), introduced a less-discussed but important update for crypto users.
Instead of changing crypto tax rates, the government has strengthened reporting and compliance rules for crypto transactions. New provisions empower tax authorities to penalize inaccurate or missing reporting of digital asset trades, especially by platforms, intermediaries, and custodial services.
Notably, the budget speech did not announce any new crypto policy reforms or tax relief, keeping the existing framework intact. This suggests the focus has shifted from taxation changes to data transparency and enforcement.
What this means for users:
• Exchanges may tighten KYC and transaction reporting
• On-chain and off-chain activity tracking will increase
• Compliance, not prohibition, appears to be the current approach
This update hasn’t received wide attention yet, but it signals how governments may regulate crypto next — through reporting standards rather than bans.
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