Cryptocurrency Q&A
Which exchanges have been raided by Mumbai CGST & DGGI?
Which exchanges have been raided by Mumbai CGST & DGGI?
Lucia
Mon Jul 15 2024
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6
answers
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As a keen observer of the cryptocurrency and financial markets, I'm curious to know which exchanges have fallen under the scrutiny of the Mumbai Central Goods and Services Tax (CGST) and Directorate General of Goods and Services Tax Intelligence (DGGI). These raids often signal a shift in regulatory focus or potential compliance issues. Given the ever-evolving nature of cryptocurrency regulations, it's imperative to stay updated on such developments. Could you elaborate on which exchanges were raided and any potential implications these raids may have on the broader market?
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6 answers
CryptoAlchemy
Wed Jul 17 2024
The recent raids on several cryptocurrency exchanges in India have revealed potential irregularities.
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NavigatorEcho
Wed Jul 17 2024
Among the targeted exchanges were CoinSwitch Kuber, CoinDCX, BuyUCoin, and Unocoin.
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Bianca
Wed Jul 17 2024
These raids were conducted by the Mumbai Central Goods and Services Tax (CGST) and Directorate General of Goods and Services Tax Intelligence (DGGI).
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KiteFlyer
Wed Jul 17 2024
According to local media sources, the crackdown has uncovered tax evasion to the tune of over $9.41 million by Indian cryptocurrency exchanges.
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ShadowFox
Tue Jul 16 2024
The scale of the evasion highlights the need for stricter regulations and oversight in the cryptocurrency market in India.
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