India may change crypto policy due to international adoption: report
The Indian government has a reputation for being harsh on crypto, but a regulatory sea change in the United States may cause a pivot.
The Indian government, which has historically been opposed to crypto, is reviewing its regulatory policy in response to adoption by other nation-states.
According to Reuters, India’s economic affairs secretary, Ajay Seth, said that digital assets “Don’t believe in borders” — signaling that India does not want to get left behind in the digital asset revolution.
News of a potential policy shift came amid a new tax of up to 70% on previously undisclosed crypto gains as part of India’s Income Tax Act.
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Author: Vince Quill
