Claim BonusIndian Corporates Will Now Have To Disclose Their Crypto Holdings To the Government
In the latest developments within the Indian cryptosphere, it turns out that Indian corporates might have to report their cryptocurrency holdings to the government. India’s blockchain lawyer Varun recently shared a draft image, the access to which is still missing.
However, Varun states that as per the Standard Scheduled III Balance Sheet, companies reporting with the Ministry of Corporate Affairs will have to disclose their cryptocurrency holdings if any. “This means every corporate in #India now has to report it’s #crypto holding. And guess what, it will be public data!” he added.
Standard Sch III Balance Sheet reporting with Ministry of Corporate Affairs in #India may now require #cryptocurrencies disclosure! #Crypto #Blockchain pic.twitter.com/3m2q31vwnL
— Varun | Blockchain Lawyer (@Blockchainlaw91) March 25, 2021
The latest report comes at a time when India has been mulling a blanket ban on the use of cryptocurrencies. There have been several discussions between the government and the central bank over the past few weeks.
Unlike American corporates, Indian corporates haven’t been much vocal about their views on cryptocurrencies. Probably, they might have been fearing any government action or scrutiny looking at the way things are moving with India’s crypto ban.
RBI’s Shaktikant Das Flags “Major Concerns” With Crypto Use
Speaking at the 7th India Economic conclave on Thursday, March 25, RBI Governor Shaktikant Das said that the central bank has flagged “major concerns” with the use of cryptocurrencies.
However, Das added that the matter of crypto ban or any related decision is still under consideration. “The government will come out with a decision on it,” the RBI chief added.
Interestingly, Das further added that the Indian central bank and the government are on the same page when it comes dealing to with crypto matters and there’s no difference of opinion between the two. He further added that both of them are committed to the financial stability of the Indian market.
Besides, Das further noted that the RBI is working on its way for the central bank digital currency (CBDC) aka digital Rupee.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Expert Says Bitcoin Now in ‘Stage 4’ Bear Market Phase, Warns BTC May Hit 35K to 45K Zone
- Bitcoin Price Today As Bulls Defend $65K–$66K Zone Amid Geopolitics and Tariffs Tensions
- XRP Realized Losses Spike to Highest Level Since 2022, Will Price Rally Again?
- Crypto Market Rises as U.S. and Iran Reach Key Agreement On Nuclear Talks
- Trump Tariffs: U.S. Raises Global Tariff Rate To 15% Following Supreme Court Ruling
- Shiba Inu Price Feb 2026: Will SHIB Rise Soon?
- Pi Network Price Prediction: How High Can Pi Coin Go?
- Dogecoin Price Prediction Feb 2026: Will DOGE Break $0.20 This month?
- XRP Price Prediction As SBI Introduces Tokenized Bonds With Crypto Rewards
- Ethereum Price Rises After SCOTUS Ruling: Here’s Why a Drop to $1,500 is Possible
- Will Pi Network Price See a Surge After the Mainnet Launch Anniversary?
