India Pursues 5-Point Crypto Legislation, Bans Ruled Out

IndustryTrends

Implementing robust KYC for crypto firms, including FATCA and AML compliance. 

Crypto platforms must provide real-time proof-of-reserve audits to regulators 

A standardized tax policy applicable worldwide 

Crypto exchanges might attain a status akin to authorized dealers, like banks, as per Reserve Bank of India (RBI) guidelines 

Certain essential roles, like a Money Laundering Reporting Officer, could become obligatory for crypto platform 

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