The Indian government is considering its attitude towards crypto as the global view of digital assets begins to thaw, Reuters reported on Monday.
Although Crypto is unregulated in India, the country began to tax digital assets in 2022, charging 1% tax deduction-source (TDS) on crypto transactions and introducing a 30% capital gains tax. Since then, the crypto sector has been trying to get the Narendra Modi-led government to facilitate taxation and bring political clarity to grow digital assets in the country, but to no avail.
The Indian Government’s review comes as Donald Trump’s crypto -Reneent regime has resumed hope for widespread crypto -uptake in the US and approval of several financial products linked to tokens.
“More than one or two jurisdictions have changed their attitude towards cryptocurrency in terms of use, their acceptance, where do they see the importance of crypto assets. In that step we look at the discussion paper again,” India’s financial affairs secretary Ajay Seth told Reuters in An interview.
The discussion document at Crypto was put on wait last year as officials focused on other priorities reported by Coindesk.
