India tightens crypto rules with new 3rd-party reporting
Starting April 1, 2026, India will require banks and crypto exchanges to report all virtual digital asset (VDA) transactions, including cryptocurrencies, to tax authorities.
This move comes after officials spotted issues in over 4,500 digital asset deals, signaling a push for more transparency and fewer loopholes in the crypto space.
Why it matters:
Crypto earnings in India have faced a steep 30% tax since early 2022, plus mandatory TDS on every transaction.
Still, many foreign platforms aren't following the rules, and recent investigations uncovered ₹824 crore in GST evasion by 18 exchanges.
With only 47 virtual asset providers officially registered so far, these new steps are meant to bring more order—and accountability—to India's fast-growing crypto scene.