18 JUL,2022 | MEDC
Participating in the G20 Ministerial Symposium, the Finance Minister rightly said that major economies should consider bringing in non-financial assets like cryptocurrencies under the ambit of the automatic exchange of information mechanism among countries to curb tax evasion. This is part of India's official desire to mould a global strategy around cryptos for their effective regulation. It is not uncommon for unscrupulous elements to resort to numerous and nebulous layers of entities to mask their financial dealings. Like any technology removing friction, the ease with which new crypto projects can be launched has come as a boon to con-artists and fly-by-night operators. The stability of a nation's financial architecture cannot be at the mercy of such stakeholders. Info sharing on cryptosis now a global necessity.
*Picture Credit: Google