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NEW DELHI, Feb 5 (Reuters) - India is talking to cryptocurrency exchanges to measure evolving trading enactment arsenic it seeks oversight implicit newer crypto products, according to a top taxation official.
India does not modulate cryptocurrencies, but planetary crypto exchanges specified as Binance, Coin DCX, Coinbase and Zebpay run successful the state aft registering with a authorities agency.
Asia's third-largest system has imposed punitive taxes connected gains from cryptocurrencies and the section cardinal slope has repeatedly cautioned against the risks from crypto trading.
"Every time the illustration of (cryptocurrency) transactions is changing. We request to recognize new benignant and signifier of transactions arsenic the exertion evolves," Ravi Agrawal, president of Central Board of Direct Taxes, told Reuters successful an interview connected Thursday.
Presently, crypto derivatives are not taxed, and need to beryllium studied, Agrawal said, adding the "government volition tread carefully" earlier formulating immoderate argumentation for specified "sensitive transactions".
Global acceptance of cryptocurrencies has risen since U.S. President Donald Trump took bureau successful January 2025, with bitcoin, the world's largest crypto-asset by marketplace capitalisation, rising to grounds highs successful October past year. Bitcoin has travel off since.
The Indian authorities has been of the presumption that its taxation and different laws enactment arsenic deterrents towards speculative crypto trading locally, Reuters reported past year.
New Delhi is leaning towards not legislating crypto regularisation and would alternatively support partial oversight, fearing that bringing the assets into the mainstream could rise systemic risks, Reuters reported successful September 2025.
(Reporting by Nikunj Ohri; Editing by Mrigank Dhaniwala)
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