Indian Virtual Asset Industry Lobbies for Regulatory Easing... Targeting $15 Billion Market by 2035

Uk Jin

Summary

The Indian virtual asset industry is lobbying to ease trading regulations by aiming to reduce taxes.
It was stated that the current $2.5 billion Indian virtual asset market could potentially grow to $15 billion by 2035.
It was analyzed that the favorable stance of the former Donald Trump administration towards virtual assets influenced the easing of regulations by the Indian government.

The Indian virtual asset (cryptocurrency) industry has started lobbying for the easing of virtual asset trading regulations.

On the 27th (local time), WuBlockchain cited the Financial Times, reporting that the Indian virtual asset industry has begun efforts to reduce the 30% capital gains tax and 1% transaction tax that started in 2022.

It is analyzed that there is also an influence from the United States. WuBlockchain explained, "The Indian government's stance has been eased due to the favorable attitude towards virtual assets by the Donald Trump administration," and "There is a forecast that the current $2.5 billion Indian virtual asset market could grow to $15 billion by 2035."