The Indian government is rethinking its position on cryptography as the global vision of digital assets begins to defrost, Reuters reported Monday.
Although cryptography is not regulated in India, the country began to tax digital assets in 2022, charging 1% of the 1% of the tax source (TDS) in cryptographic transactions and introducing a capital gain tax of 30% . Since then, the cryptographic sector has been trying to ensure that the Government led by Narendra Modi relieves taxes and brings policy clarity to increase digital assets in the country, but was in vain.
The review of the Indian Government occurs when Donald Trump’s cryptographic regime has revived the hopes of generalized cryptographic adoption in the United States and the approval of more financial products linked 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. At that step, we are taking a look at the discussion document once again,” India’s’s. The Secretary of Economic Affairs, Ajay Seth, told Reuters in an interview.
The Discussion Document on Crypto was suspended last year when officials focused on other priorities, as reported by Coindesk.
