Bigger India
Indians Look to Buy Bitcoin Overseas as Regulations Tighten
As cryptocurrency regulations start to pile up in India, a new trend is emerging for Indians to acquire cryptocurrencies from abroad, such as from relatives or friends with overseas accounts.
The Indian government has recently intensified its efforts to strengthen the country’s regulations on cryptocurrencies, promising that a regulatory framework for them will be announced soon. Earlier this month, the Indian tax authority issued notices to 100,000 crypto traders asking them to pay taxes.