India Keeps Stiff Taxes on Crypto as Interim-Budget Is Revealed in Election Year

“Digital public infrastructure and the PM’s aspiration for [innovation] will benefit from integrating provisions for long-term financing of domestic crypto projects given how India is at a pivotal phase in the crypto revolution,” said Rajagopal Menon, vice president of cryptocurrency exchange WazirX. “We expect these developments to factor in the government’s agenda along with our existing requests for a reduction in TDS rates to 0.01% and offset of losses for traders.”