TechFlow news, May 27 — According to the Financial Times, India's cryptocurrency industry is lobbying to reduce the current tax rates on crypto transactions. Since 2022, India has imposed a 30% capital gains tax and a 1% transaction tax on cryptocurrency trading. Research from New Delhi-based think tank Esya Centre shows these tax measures have driven over 90% of Indian digital asset trading offshore.
Ashish Singhal, co-founder of cryptocurrency exchange CoinSwitch, said meetings with policymakers have increased in frequency from once every six months to monthly or even weekly. Binance and Coinbase, the world's two largest cryptocurrency exchanges, have both returned to the Indian market.
Add to Favorites
Share to Social Media
