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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.
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