Indians Use Crypto To Buy Goods Via Overseas Gift Cards
· Business · Economic Times, Times of India
Indians are purchasing groceries, fuel, and gold by converting cryptocurrencies into gift cards through overseas platforms. These platforms buy Indian vouchers in bulk and settle payments using crypto proceeds, offering better rates than local exchanges. The practice raises tax and anti-money laundering concerns as it bypasses traditional banking channels. Separately, India will ask Meta whether US child-safety features from a recent $18 billion settlement will be implemented locally.
Why it matters
The crypto loophole challenges financial regulations while the Meta inquiry highlights child protection gaps.
Read the original report — Economic Times
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