• India’s crypto sector urges tax cuts to boost local trading.
  • High crypto taxes push investors away, risking $15B opportunity.
  • Government openness and global shifts revive hope for crypto reforms.

India’s crypto industry is now making strong efforts to change the country’s strict tax rules. Currently, 30% of the profit from crypto is subject to tax, as is one percent for every transaction. Taxes of this kind were imposed in 2022. From that point on, the majority of crypto trades now happen elsewhere.

India Eyes Crypto Reforms as Market Could Hit $15B

For this reason, Indian bitcoin industry players and interested investors are calling on the government to allow a more open approach. People say that India’s high taxes are deterring investment in the country, causing experts to move elsewhere and limiting India’s participation in the expanding global digital industry.

According to Financial Times, the Indian government is beginning to show a better tolerance for cryptocurrencies. A key reason is that Donald Trump, a supporter of cryptocurrencies, could become president once more. The change in government has appeared to make India more flexible. Consequently, there are weekly or monthly opportunities for crypto business people and government officials to come together.

Grant Thornton values the Indian crypto market at about $2.5 billion. But, according to experts, if new regulations and tax reforms are passed, this sector could be worth more than $15 billion by 2035. Such growth can help Indian tech startups create employment and add to the nation’s earnings by running the platforms as authorized businesses.

Some within the crypto industry hope that fair tax rules would encourage local traders to stop using foreign platforms. Such a law would drive investment into new blockchain ideas and strengthen India’s position in global digital finance.

Even though the government hasn’t confirmed tax cuts, the rise in positive talks is giving the industry reasons to hope. Both startups and investors are keeping a close eye on India, hoping it will develop policies that protect and advance both safety and innovation.

India Poised for Crypto Boom if Taxes Relaxed

The country enjoys a significant edge due to its big population, tech-savvy population, and growing connections to foreign markets. If rules are updated, India might lead the next progress in crypto.

Ashish Singhal, who started CoinSwitch, said the worldwide change in crypto, with Trump leading the way, has been good for India too. He believes that a major demand inside the gaming industry right now is to lessen what he terms the “very harshly” enforced taxes.

In the past, the RBI was against the idea of using cryptocurrencies in India. Banks were forbidden, starting in 2018, from any work with crypto companies. However, in 2020, the Supreme Court changed its ruling. More recently, things have taken a different shape. Sanjay Malhotra, the RBI Governor, has not expressly slammed crypto and Singhal explained that the impression with the central bank is no longer very negative.

Interestingly, India is seeing more crypto companies make a comeback. Bybit officially registered with Indian authorities in February 2025 and has since been offering all its services to its users. In March, Coinbase also signed up with India’s Financial Intelligence Unit. It is a key step that takes the company closer to starting its services in India after a two-year break.

Overall, the crypto industry in India looks optimistic. If there are changes in tax rules, it might help the United States regain business growth, new jobs and more inward investment.

The post India’s Crypto Industry Pushes to Cut Harsh Taxes appeared first on Live Bitcoin News.

Source link





News Source link