According to Odaily Planet Daily, a survey of professional Indian investors by the New Delhi technology policy think tank Esya Centre showed that India should consider revising its cryptocurrency tax policy rather than relying on anti-money laundering rules to deal with high tax impacts.

The study found that Indian investors are well aware of tax regulations related to cryptocurrencies (58%) and money laundering (52%), and prefer collateralized stablecoins (93%) over algorithmic stablecoins.

The survey was conducted in five cities in March and April this year, involving 1,342 highly educated respondents. The study also found that the anti-money laundering law led to a shift in support for equity investment (8%).