India Signals Major Crypto Policy Shift Following Global Regulatory Changes

India's Economic Affairs Secretary Ajay Seth announced that the country is reconsidering its stringent cryptocurrency regulations in response to evolving global attitudes toward digital assets. This policy review comes amid significant changes in international crypto regulations, particularly influenced by the pro-crypto stance of the Trump administration. While India currently maintains strict crypto taxation with a 30% capital gains tax and 1% TDS, this reassessment could lead to more favorable policies. The review may delay the release of India's cryptocurrency discussion paper, originally scheduled for September 2024.

Source: Reuters