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.”