India urged to revise crypto taxation ahead of upcoming union budget as trading moves offshore

India’s crypto trading volume has largely moved offshore, amounting to approximately 6.1 billion USD or 51,252 crore INR. This shift signals urgent tax reform as current regulations deter domestic participation.

Key industry figures advocate for reducing the Tax Deducted at Source, adjusting loss set-offs, and instituting clearer regulations to foster a more favorable trading environment in India.