Indian Crypto Industry Pushes for Tax Relief as Govt Stance Softens

The Indian crypto industry is ramping up its lobbying efforts to reduce taxes levied on crypto trading. According to a Financial Times report published on 27 May 2025, the industry hopes to capitalise on a more open-minded attitude towards crypto from the Indian government, as the country engages in trade negotiations with the US. Ashish.. The post Indian Crypto Industry Pushes for Tax Relief as Govt Stance Softens appeared first on 99Bitcoins.

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May 28, 2025 - 22:01

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The Indian crypto industry is ramping up its lobbying efforts to reduce taxes levied on crypto trading. According to a Financial Times report published on 27 May 2025, the industry hopes to capitalise on a more open-minded attitude towards crypto from the Indian government, as the country engages in trade negotiations with the US.

Ashish Singhal, founder of CoinSwitch, a crypto exchange based in India, mentioned that exchanges with Indian policymakers have become more frequent. “We’re now meeting monthly, sometimes even weekly,” he said, unlike meeting biannually in the past.

The main request from the industry leaders remains a reduction in what Singhal described as “very harshly” imposed taxes.

The crypto industry, which faced marginalisation for the longest time due to concerns regarding its links to criminal activity, is now gaining momentum as executives from major exchanges in India reveal a notable shift in government engagement, especially after Donald Trump’s re-election and his pro-crypto stance.