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The department told a Parliamentary panel that VDAs could be used to move funds through a system without regulated financial intermediaries
The department also noted that offshore exchanges, private wallets and decentralised platforms made it “very difficult” for the authorities to detect taxable income
With this, the I-T department has effectively toed the line of RBI, which previously termed VDAs as a threat to the country’s financial stability
Following Reserve…
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The department told a Parliamentary panel that VDAs could be used to move funds through a system without regulated financial intermediaries
The department also noted that offshore exchanges, private wallets and decentralised platforms made it “very difficult” for the authorities to detect taxable income
With this, the I-T department has effectively toed the line of RBI, which previously termed VDAs as a threat to the country’s financial stability
Following Reserve…
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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