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Indian Crypto Exchanges Under Scrutiny for Misuse of Client Assets
Indian Crypto Exchanges Under Scrutiny for Misuse of Client Assets
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BTCCSquare news:
Indian tax authorities have flagged potential misuse of client assets by several cryptocurrency exchanges, according to a report by The Times of India. The Income Tax Department's probe alleges that user funds were utilized without profit-sharing arrangements, raising concerns over custodial practices in the country's rapidly growing digital asset sector.
While the report did not specify affected platforms, the findings underscore regulatory gaps in India's crypto ecosystem. The market has seen exponential growth despite lingering uncertainty around taxation and oversight frameworks.
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