EddieJayonCrypto
4 Feb 25
India is reconsidering its crypto policy in response to shifting global attitudes towards digital assets. The government is reviewing its regulatory approach, indicating potential openness to more adaptive policies. However, India has also introduced stricter tax measures on cryptocurrencies, includ...
India is reconsidering its crypto policy following global shifts in attitudes towards digital assets. The government is reviewing its regulatory approach, potentially signaling openness to more adaptive policies. However, India has also tightened tax measures on cryptocurrencies, introducing higher tax rates for undisclosed income and penalties for undeclared crypto gains. The new regulations aim to increase compliance but face criticism for potentially pushing traders to underground markets, posing significant implications for the country's role in the evolving blockchain economy. India's Economic Affairs Secretary, Ajay Seth, acknowledged the need for policy reassessment amid global shifts, suggesting a willingness to explore more adaptive policies. Meanwhile, India's Budget 2025 introduces stricter tax measures on digital assets, including a 70% penalty on undeclared crypto gains and increased compliance requirements for businesses involved in crypto transactions. Industry experts caution that these stringent tax policies could drive traders towards underground markets or offshore platforms, potentially impeding regulatory oversight. Sumit Gupta, the CEO of Indian crypto exchange CoinDCX, criticized the tax framework, emphasizing the need for balanced regulations to avoid hindering the country's participation in the rapidly evolving blockchain economy. These developments in India's crypto policy and tax regulations reflect the broader global landscape's impact on the digital asset space, highlighting the need for nuanced and balanced regulatory approaches that foster innovation and compliance. As India navigates these regulatory shifts, industry leaders stress the importance of a progressive regulatory approach to position the country at the forefront of the Web3 innovation, ensuring it remains a key player in the evolving digital economy. Stay informed on the latest updates in the cryptocurrency world—subscribe to our newsletter for expert insights and daily crypto news.