In a groundbreaking decision, India has launched an expansive initiative to set up a worldwide registry of cryptocurrency exchanges. This venture is anticipated to be instrumental in assisting multiple national law enforcement bodies. Notably, agencies such as the Enforcement Directorate (ED), the Income Tax Department, and the Central Bureau of Investigation (CBI) are likely to benefit.
Insiders indicate that this move aims to strengthen India’s commitment to promote transparency, enhance security, and regulate the burgeoning crypto industry effectively.
The projected timeline for the database’s completion is promising. It is anticipated to be operational and accessible to the pertinent enforcement agencies by the conclusion of March 2024.
![Alicia Maclean](https://crpto.news/wp-content/uploads/2023/08/download-3.jpg)
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