In brief
- India’s crypto industry is pressing for tax relief ahead of the Union Budget, warning that high transaction taxes have pushed trading offshore.
- About three-quarters of Indian crypto volume now flows through foreign platforms, according to KoinX, undermining domestic liquidity and oversight.
- Industry groups are urging lower TDS, loss set-offs, and clearer regulation to bring activity back onshore.
As India approaches this year’s Union Budget, policymakers are under pressure to reassess the country’s punitive crypto tax framework amid capital flight to offshore platforms, raising questions about lost tax revenue and weakened regulatory oversight.
Indian crypto users execute nearly three-quarters of their crypto volume…
Jan 31 2026
