WIll Crypto-Asset Reporting Framework bring clarity for investors?
Announcement of CARF is an opportunity for the govt to frame crypto regulations too
Transactions in cryptocurrency have increased manifold. The very character of crypto assets, and the ability of investors to hold, transfer and transact across jurisdictions, makes them an easy target to be used for unlawful activities or tax evasion. The limited visibility of tax authorities on these transactions poses difficulty in verifying gains and determining taxes on such transactions.