India's Crypto Transactions Soar to ₹51,000 Crore; Industry Demands Budget Relief

• India's cryptocurrency transactions reached ₹51,000 crore in FY25, generating ₹511.8 crore in tax revenue.
• Despite high transaction volumes, cryptocurrencies and other blockchain-based digital assets remain largely unregulated in India.
• Industry leaders are advocating for clear and consistent regulations in the upcoming Budget to foster innovation and investor confidence.
• Proposed amendments to the Income Tax Act aim to enhance oversight of VDA transactions through detailed disclosure requirements.
• Key industry demands for the Budget include reducing 1% TDS to 0.01%, aligning 30% capital gains tax with income slabs, and allowing loss offsets.

Why It Matters: India's crypto market is booming, but the industry seeks regulatory clarity and tax relief in the upcoming Budget.