India Reevaluating Its Crypto Stance

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The Indian government may be reconsidering its stance on cryptocurrency as global attitudes towards digital assets evolve.

In 2022, India began taxing crypto transactions and charging a 1% tax and 30% capital gains tax, despite not having regulations in place for crypto.

The crypto industry has been advocating for the Narendra Modi-led government to ease taxation and provide policy clarity in order to promote growth in the digital asset market, but these efforts have not resulted in any changes.

The review by the Indian government comes at a time when the US, under the crypto-friendly administration of Donald Trump, has shown support for wider adoption of digital assets and the approval of more financial products related to cryptocurrencies.