Indian Crypto Industry Pushes for Tax Relief as Government Softens Stance

India’s cryptocurrency sector is intensifying efforts to lobby for reduced taxes on digital asset trading, capitalizing on a perceived shift in the government’s attitude. Industry leaders report more frequent engagement with policymakers, signaling potential regulatory evolution.

CoinSwitch founder Ashish Singhal notes meetings now occur monthly or weekly, a stark increase from biannual discussions. The primary demand remains revision of what Singhal characterizes as "very harsh" tax policies, including the current 30% capital gains levy and 1% TDS on transactions.

The industry’s resurgence follows years of marginalization due to perceived links to illicit activity. Recent geopolitical developments, including the U.S. election outcome, appear to be influencing India’s regulatory posture as trade negotiations progress.