Binance Joins Indian Crypto Leaders in Urgent Tax Reform Push Ahead of 2026 Budget

As India prepares for its Union Budget 2026, the country's cryptocurrency industry is mounting a coordinated campaign for significant tax reforms. Major exchanges including Binance, WazirX, and ZebPay have submitted formal proposals urging the government to reconsider the current fiscal framework that includes a 1% transaction tax (TDS) on every crypto trade and a flat 30% tax on virtual digital asset gains. These measures, implemented in recent years, have substantially reduced trading liquidity on domestic platforms and driven many Indian traders to offshore exchanges. The industry's pre-budget push emphasizes that the current tax structure creates disproportionate burdens compared to other asset classes and discourages compliant onshore trading activity. Executives argue that revising these policies WOULD help revive India's crypto market, enhance regulatory compliance, and position the country as a competitive hub in the global digital asset ecosystem. The lobbying effort comes at a critical juncture as policymakers balance revenue considerations with fostering innovation in the rapidly evolving financial technology sector. With the budget announcement approaching, the crypto community is highlighting how tax adjustments could improve transparency, bring trading activity back to regulated Indian exchanges, and align with broader economic digitalization goals. The outcome of these proposals will significantly influence whether India can reclaim its position as one of the world's most active cryptocurrency markets while maintaining robust regulatory oversight.

Crypto Executives Push India to Ease 30% Tax and 1% TDS Burden in Budget 2026

India’s crypto industry is rallying for tax reforms ahead of the Union Budget 2026, with major exchange executives advocating for reduced fiscal burdens to revive liquidity and promote compliant onshore trading. WazirX, ZebPay, and Binance have submitted pre-budget proposals urging a rollback of the 1% transaction tax and a reassessment of the flat 30% levy on virtual digital asset gains.

The push comes amid tightening regulations and heightened compliance demands for crypto platforms. Nischal Shetty, founder of WazirX, emphasized the need for a calibrated approach, stating the budget presents an opportunity to align India’s framework with global Web3 maturation. "A reduction in TDS and revised loss set-off provisions could restore onshore activity," he noted.

Tax authorities, however, remain cautious, citing challenges in tracking crypto-related income. The outcome could shape India’s position in the evolving digital asset landscape.

Pepecoin (PEPE) Slumps 16% as Capital Rotates to Mutuum Finance (MUTM)

Pepecoin (PEPE), once a darling of meme coin traders, has tumbled 16% amid a broader shift toward utility-driven projects. The token now hovers NEAR $0.000006, with its $2.5 billion market cap testing the resolve of speculative holders. Technical charts show stiff resistance at $0.000008—a level where past rallies have faltered—and a psychological barrier at $0.000010.

Investors are pivoting to nascent protocols like Mutuum Finance (MUTM), drawn by its launch catalysts and perceived fundamentals. This rotation reflects a market increasingly intolerant of assets lacking clear use cases. 'When memes bleed, liquidity finds pipes with actual plumbing,' remarked one derivatives trader on Binance.

Crypto Whales Rotate Capital Into Low-Priced BSC and Solana Tokens Amid BTC Consolidation

Market participants are shifting focus from Bitcoin and ethereum to micro-cap tokens on Binance Smart Chain and Solana, according to Santiment data. Bitcoin holds steady near $95,000 while Ethereum consolidates around $3,300, creating opportunistic flows into altcoins.

Fartcoin emerged as the most accumulated token by smart money in the past 24 hours, though its technical outlook weakened after failing to sustain momentum above $0.45. The Solana-based asset now trades below both its 7-day and 30-day moving averages.

This rotation coincides with Bitcoin's struggle to maintain directionality despite briefly touching $97,000. Traders appear to be chasing asymmetric returns in lower-priced assets while blue-chip cryptocurrencies range-trade.

Opinion Labs Prediction Market Hits $138M Open Interest Record

Opinion Labs, the leading prediction market on BNB Chain, shattered records in January with $138M in open interest. The platform now commands up to 60% of daily prediction market volumes, outpacing rivals Polymarket and Kalshi.

Weekly volumes surged to $1.6B, eclipsing Polymarket’s activity. The rapid ascent stems from aggressive ecosystem growth, Binance integrations, and a diversified market structure using Brevis for settlement. Opinion currently generates $1M-$1.74M in weekly fees with $147M TVL.

Unlike competitors, Opinion prioritizes community engagement through builder programs and social media traction. The platform’s design avoids conflicts in prediction pair resolutions while expanding into analytics and curation services.