India Reassesses Crypto Policy as Global Perspectives Shift

The Indian government delays its crypto discussion paper while maintaining heavy taxation, reflecting evolving international attitudes.

India is reviewing its cryptocurrency stance due to changing global attitudes, including the U.S.'s recent crypto-friendly policies under President Donald Trump.
The country's discussion paper on digital assets, originally set for September 2024, has been delayed as officials reconsider regulatory approaches.
India's 2025 Union Budget maintains stringent crypto taxes, including a 30% tax on gains and a 1% Tax Deducted at Source (TDS) on transactions, with no exemptions or deductions.
New budget amendments propose retrospective audits on crypto gains from the past 48 months, with penalties of up to 70% for unreported earnings.
Industry leaders have expressed mixed reactions, urging the government to prioritize regulatory clarity and friendlier policies to support innovation and economic growth.