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Homepage > News > Business > India’s Budget 2025-2026 indifferent toward digital assets India’s finance minister, Nirmala Sitharaman, remained silent on regulation as well as reduction of taxation on digital assets as she presented the Union Budget 2025-2026 in Parliament on February 1.  India’s digital asset sector was seeking a more supportive regulatory environment. The existing policy, which includes a 30% tax on profits and a 1% Tax Deducted at Source (TDS) on transactions, has negatively impacted the digital currency sector, driving traders to offshore platforms and decreasing liquidity and market activity. This Union Budget was particularly crucial, as digital asset exchanges in India may face consolidation in 2025. Smaller exchanges could either shut down or merge with larger ones due to the challenging tax structure. “The Union Budget swept in with the promise of transformation but left the Web3 industry reeling with a slew of unfulfilled expectations and bureaucratic indifference,” Raj Kapoor, founder of India Blockchain Alliance (IBA), told CoinGeek. “Industry leaders had anticipated a bold regulatory framework that would unleash innovation and attract investment into the dynamic world of blockchain and cryptocurrencies. Instead, they were met with deafening silence—no guidelines, no clarity, just the same opacity that continue to stifle progress,” Kapoor added. According to Sumit Gupta, co-founder of CoinDCX, India is pushing digital transformation through central bank digital currencies (CBDCs), artificial intelligence (AI), and Digital Public Infrastructure (DPI), but lacks a clear stance on Web3 and virtual digital assets.  “Despite blockchain adoption, crypto remains absent from the policy discussion. Crypto and Web3 are becoming an active part of policy discussions globally, specially in the US, and we need active policy discussions to be included in mainstream economic planning in India,” Gupta said on X. In July 2024, CoinDCX, India’s first digital currency unicorn, listed the BSV token…

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Filed under: News - @ February 4, 2025 8:16 am