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India’s Crypto Industry Lobbies for Tax Cuts to Revive Sector
India’s Crypto Industry Lobbies for Tax Cuts to Revive Sector
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India’s cryptocurrency sector is intensifying efforts to lobby for a more favorable tax regime, aiming to reverse the current restrictive policies. Industry leaders are pushing for reductions in the 30% tax on crypto gains and the 1% tax deducted at source (TDS) on transactions. The Financial Times reports that discussions between policymakers and crypto executives have become more frequent, signaling potential regulatory shifts.
Ashish Singhal, co-founder of CoinSwitch, noted that the pro-crypto stance of global figures like former U.S. President Donald Trump has catalyzed these engagements. The Indian crypto market, projected to grow to $15 billion, is attracting renewed interest from international players.
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