Indian Finance Minister: Will maintain the current controversial cryptocurrency tax regulations unchanged

ChainCatcher news, according to CoinDesk, Indian Finance Minister Nirmala Sitharaman stated in the 2024-2025 budget speech that the current cryptocurrency tax regulations will remain unchanged.

Although the Indian crypto industry proposed to reduce the Tax Deducted at Source (TDS) on crypto transactions from 1% to 0.01% and sought to implement a progressive tax rate on gains instead of a fixed 30% rate, these proposals were not adopted. This budget is the first since Prime Minister Narendra Modi was elected for a third consecutive term.