Feb 01, 2025 01:43 PM IST
Finance Minister Nirmala Sitharaman has suggested defining ‘virtual digital asset’ as undisclosed income to strengthen cryptocurrency regulations.
Finance Minister Nirmala Sitharaman in her budget speech has proposed that “virtual digital asset” should be included in defining undisclosed income, the latest step by the government to tighten oversight of cryptocurrencies. This move comes amid several reports of unregulated cryptocurrency being used to hide illegal transactions.
“It is proposed to add the term ‘virtual digital asset’ to the said definition of undisclosed income of the block period,” the…
