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India’s Crypto Industry Seeks Tax Relief Amid Shifting Regulatory Climate
India’s Crypto Industry Seeks Tax Relief Amid Shifting Regulatory Climate
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Indian cryptocurrency executives are capitalizing on perceived regulatory softening to push for reduced taxation. Prime Minister Narendra Modi’s administration has reportedly shown increased openness to digital assets following the political shift in the United States.
"The positive crypto momentum from the U.S. has influenced India’s stance," said CoinSwitch co-founder Ashish Singhal, referencing the impact of Donald Trump’s return to the White House. The industry’s primary demand focuses on revising what they describe as excessively harsh tax policies.
Current Indian regulations impose a 30% capital gains tax on crypto transactions and a 1% transaction levy, measures originally implemented to curb potential misuse of digital assets.
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