New Delhi, Jan. 15 -- As the Union Budget 2025 approaches, the cryptocurrency industry in India anticipates a more favourable tax and regulatory environment. India has consistently ranked among the top nations in crypto adoption. However, the sector still faces challenges from the 2022 Union Budget, which imposed higher taxes, including a 1% TDS on crypto transactions and restrictions on offsetting losses against gains.

Industry leaders are now looking for a more balanced and progressive approach that could drive positive momentum in the sector. Key expectations include reducing the TDS on crypto transactions to 0.01%, allowing the offsetting of losses, and lowering the tax rate on virtual digital assets (VDAs). Experts believe these ref...