India Considers Crypto Tax Reforms Amid Shifting Regulatory Climate

Indian cryptocurrency advocates are pushing for significant tax reductions as government attitudes toward digital assets show signs of softening. The Modi administration, previously wary of crypto, has increased engagement with industry leaders, holding policy discussions monthly or even weekly—a stark contrast to the previous biannual cadence.

This regulatory thaw coincides with two pivotal developments: ongoing US-India trade negotiations and Donald Trump’s pro-crypto return to American politics. Ashish Singhal of CoinSwitch, India’s dominant exchange with 20 million users, confirms the heightened dialogue frequency in conversations with Financial Times.

The industry’s primary focus remains overhauling what participants view as prohibitive taxation structures. While no specific coins were mentioned in the excerpt, the policy shift could potentially benefit all digital assets traded on major platforms including Binance, Coinbase, and domestic exchanges.