India Including Crypto Businesses in New Cybersecurity Rules

While the industry views this announcement as a gentle step towards regulation ahead of the enactment of crypto-specific legislation, the government does not see the move as a step towards regulation. A similar, but much stronger move, was the rule that taxed crypto businesses before crypto-specific legislation, announced in February. At the time, a senior Treasury official said “just because it’s taxed doesn’t make it legal.”