Share this article
BTC
$83,979.66
+
1.22%ETH
$1,817.73
+
1.53%USDT
$0.9996
-
0.01%XRP
$2.1236
+
2.77%BNB
$597.31
+
0.76%SOL
$121.22
+
4.74%USDC
$1.0000
-
0.00%DOGE
$0.1705
+
5.06%ADA
$0.6622
+
1.72%TRX
$0.2387
-
0.23%LINK
$12.94
+
1.18%LEO
$9.1919
-
3.85%TON
$3.3192
-
6.45%XLM
$0.2599
-
0.41%AVAX
$18.23
+
0.31%SUI
$2.2556
+
2.11%SHIB
$0.0₄1237
+
1.54%HBAR
$0.1634
+
0.73%LTC
$84.78
+
1.58%OM
$6.2658
-
1.48%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menu
- Back to menu
- Back to menu
- Back to menuResearch
India Reviewing Its Crypto Stance as Global Outlook Eases: Reuters
The review comes as Donald Trump's crypto friendly policy has pushed countries to soften their approach on digital assets.
What to know:
- India is going to have a second look at the crypto discussion paper, which was put on hold last year.
- The review comes as many countries appear to take a softer stance on crypto following the lead of the U.S. government.
The Indian government is rethinking its stance on crypto as the global view on digital assets starts to thaw, Reuters reported on Monday.
Although crypto is unregulated in India, the country started taxing digital assets in 2022, charging 1% tax-deducted-at-source (TDS) on crypto transactions and introducing a 30% capital gain tax. Since then, the crypto sector has been trying to get the Narendra Modi-led government to ease taxation and bring policy clarity to grow digital assets in the country, but to no avail.
STORY CONTINUES BELOW
The Indian government's review comes as Donald Trump's crypto friendly regime has reignited hopes of widespread crypto adoption in the U.S. and approval of more financial products linked to tokens.
"More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of the usage, their acceptance, where do they see the importance of crypto assets. In that stride, we are having a look at the discussion paper once again," India's Economic Affairs Secretary Ajay Seth told Reuters in an interview.
The discussion paper on crypto was put on hold last year as officials were focusing on other priorities, as reported by CoinDesk.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
