"We are aware of access to offshore crypto platforms being available through VPNs, and we are working to figure out a way around it," Meity secretary S. Krishnan said. "However, it isn't a question of enforcing regulatory roadblocks; we will need to find a technological solution to block offshore exchanges despite VPNs."
Tech-savvy users see the IP block as a minor hindrance that they are willing to overcome, especially because all crypto trades on Indian exchanges attract a 1% tax deducted at source (TDS), and there is greater liquidity on global cryptocurrency exchanges.
To be sure, the use of VPNs could slow the minor revival seen on Indian cryptocurrency exchanges when the global IPS were blocked.
Esta historia es de la edición January 20, 2024 de Mint Mumbai.
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