India’s Crypto Industry Lobbies For Tax Cuts Eyeing Government’s Softening Stance: FT
The crypto industry in India has spotted its chance to lobby for more favorable treatment from New Delhi, according to a Financial Times report on Tuesday.
Crypto exchange executives said Prime Minister Narendra Modi’s government’s has become more receptive towards digital assets and has engaged in discussions since Donald Trump’s return to the White House, the FT reported.
“Thanks to Trump, the positive momentum that has happened in crypto has impacted India as well,” CoinSwitch co-founder Ashish Singhal said, according to the report.
The industry’s big ask is a reduction in the “very harshly” imposed taxes, Singhal added.
In India, crypto transactions are currently subject to a 30% capital gains tax and a 1% levy on every transaction out…
