The Inside Story of How India’s Crypto Exchanges Were ‘Inspected’ by Tax Agencies

The Takeaway: Tax agencies have several other crypto exchanges on their radar but expect these “inspections” to serve as a deterrent that will make the industry voluntarily fall in line. Agencies have been examining crypto exchanges’ finances in India since August 2021, the investigation is still ongoing and currently focused on evaluating transactions to correctly assess tax liability. The overal…