The post India Reconsiders Crypto Policies as Firms Return appeared on BitcoinEthereumNews.com.

India hints at crypto policy shifts, attracting global firms. Harsh taxes drove exchanges away, but re-entry begins. Global markets embrace crypto with favorable regulations. As global jurisdictions change to suit emerging crypto regulations, India too seems to change its approach towards digital assets. India’s Crypto Policy Re-Evaluation India had initially planned to introduce a consultation paper on crypto regulations following its 2023 G20 presidency. However, the government is now rethinking its approach due to changing global forces, according to Ajay Seth, Secretary, Department of Economic Affairs, who recently made this revelation. India today charges a 30% tax on crypto gains and a 1% tax deducted at source (TDS), which had a profound effect on trade volumes. Huge numbers of retail and institutional investors have left the market after these introductions of taxes in 2022. The downturn also compelled exchanges such as WazirX to redirect part of the business to Dubai after business plummeted by 90%. Crypto Companies Aiming to Revive in India In spite of the oppressive tax regime, India is still a profitable business for international crypto service providers. Of particular significance, market leaders like Binance, Bybit, KuCoin, and Coinbase. Most recently, have all signed up with India’s Financial Intelligence Unit. The Coinbase action on March 11 indicates increased confidence in the Indian market. And may be an indicator that a regulatory regime is on its way that will facilitate adoption of crypto. Global Crypto Regulations India’s potential realignment is in accordance with a global move towards more regulated and welcoming crypto policies. Some nations have introduced regulatory actions recently to woo crypto investments: Hong Kong: Enacted tokenization, virtual asset investment, and stablecoin rules in February 2024. Australia: Announced a four-pillar strategy in March 2024, including licensing, governance, custody, and stablecoin regulations. United Arab Emirates: Dubai Financial Services Authority…

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Filed under: News - @ March 21, 2025 11:23 pm