The Indian government rethinks its position on the crypto while the world’s opinion on digital assets begins to thaw, Reuters reported on Monday.
Although the crypto is not regulated in India, the country began to tax digital assets in 2022, invoicing 1% tax deduction (TDS) on cryptographic transactions and introducing a tax on capital gains of 30% . Since then, the cryptography sector has attempted to bring the government led by Narendra Modi to mitigate taxation and provide political clarity to develop digital assets in the country, but in vain.
The Indian government’s examination comes when Donald Trump’s user-friendly regime has rekindled the hope of adoption of generalized cryptography in the United States and the approval of more financial products related to tokens.
“More than one or two jurisdictions have changed their position towards cryptocurrency in terms of use, their acceptance, where they see the importance of cryptographic assets. In this stride, we again examine the discussion document” , India, the secretary of economic affairs, Ajay Seth, told Reuters in an interview.
The Crypto Discussion Discussion was suspended last year while managers focused on other priorities, as Coindesk reported.
