{"id":60720,"date":"2023-10-03T17:30:40","date_gmt":"2023-10-03T21:30:40","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=60720"},"modified":"2024-09-12T12:00:42","modified_gmt":"2024-09-12T16:00:42","slug":"india-aims-to-strengthen-crypto-crime-detection","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/india-aims-to-strengthen-crypto-crime-detection\/","title":{"rendered":"India Aims to Strengthen Crypto Crime Detection"},"content":{"rendered":"\n

India is reportedly developing a database containing information about global crypto exchanges<\/a>, including those operating within the dark web.<\/p>\n\n\n\n

\"India
India Aims to Strengthen Crypto Crime Detection <\/figcaption><\/figure>\n\n\n\n

According to reports, India is creating a comprehensive worldwide database that includes all cryptocurrency exchanges, including those on the dark web, to help investigate crimes using cryptocurrencies.<\/p>\n\n\n\n

By the conclusion of the current fiscal year or in March 2024, this effort is expected to begin operations. It is a key component of India's plan to become the leading force in cryptocurrency regulation worldwide.<\/p>\n\n\n\n

This database's main goal is to give law enforcement authorities the resources to monitor and gather information about illegal cryptocurrency activity. The Enforcement Directorate (ED), India's Income Tax Department, and other foreign law enforcement organizations will be the principal beneficiaries of this resource.<\/p>\n\n\n\n

India's efforts to create a cryptocurrency<\/a> database are in line with the G20 leaders' agreement on a global framework for crypto regulation. The Organization for Economic Cooperation and Development's (OECD) Crypto Asset Reporting Framework \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(CARF) was proposed for implementation by G20 leaders in August.<\/p>\n\n\n\n

A transparent international tax framework called CARF enables nations to exchange data on bitcoin assets. India's expanding adoption of cryptocurrency regulationsIndia has been impacting the cryptocurrency market<\/a> more, and organizations like Chainalysis have acknowledged it as a pioneer in adopting cryptocurrencies worldwide. <\/p>\n\n\n\n

The nation is also the second-largest cryptocurrency market in terms of transaction volume. However, the increased use of cryptocurrencies has led to increased related criminal activity. <\/p>\n\n\n\n

Indian authorities are, therefore, focusing more on regulatory measures. Indian Prime Minister Narendra Modi expressed support for establishing a global framework for cryptocurrency regulation at the G20 summit<\/a>. Similarly, Indian authorities have launched a Crypto Intelligence and Analysis Tool to tackle cryptocurrency-related crimes.<\/p>\n","protected":false},"excerpt":{"rendered":"

India is reportedly developing a database containing information about global crypto exchanges, including those operating within the dark web. According to reports, India is creating a comprehensive worldwide database that includes all cryptocurrency exchanges, including those on the dark web, to help investigate crimes using cryptocurrencies. By the conclusion of the current fiscal year or […]<\/p>\n","protected":false},"author":43,"featured_media":60723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[11863,1325,320],"class_list":["post-60720","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crimes-2","tag-g20","tag-india"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/croc_1696364805331.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=60720"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/60720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/60723"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=60720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=60720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=60720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}