India to Force Companies to Report on Cryptocurrencies
Indian companies are required to disclose information about crypto assets from April
From April 1st, new legislation comes into force in India, under which companies from India must file reports on the ownership of cryptocurrencies
The reports should include all data on transactions with cryptocurrencies, even if it is a loss. Regulators are interested in deposits, advances, the amount of cryptocurrency in the balance for the settlement period.
This rule applies to all companies. They will file a report to the authorised authorities. So, the Government will be able to control crypto transactions.