India’s cryptocurrency industry is advocating for tax reductions to revitalize domestic trading amid a perceived shift in government attitudes towards digital assets, influenced by Donald Trump’s return to the White House. The Modi administration is reportedly engaging more frequently with industry leaders, seeking to balance regulation with growth, although high taxes, including a 30% capital gains tax and a 1% transaction levy, have driven most trading offshore. Despite some positive momentum, concerns persist regarding money laundering and the need for regulatory clarity, as the Reserve Bank of India maintains a cautious stance.
