India Urged to Revise Crypto Tax Policies Before Union Budget

As India approaches its Union Budget, there is mounting pressure from industry leaders to reconsider the current tax structure surrounding cryptocurrencies. The migration of traders to offshore platforms is significantly impacting domestic exchanges, raising concerns about the effectiveness of regulatory oversight.

This trend of relocating trading activities abroad threatens not only the revenue generated from taxes but also compromises the ability of Indian regulators to monitor and manage the cryptocurrency sector effectively. Stakeholders are advocating for a comprehensive reform of crypto taxation to foster a more conducive environment for local traders and to retain the integrity of the Indian market.