Indian Crypto Investors Await Union Budget 2024-2025. 🇮🇳🪙💰
The upcoming Union Budget in India has stirred a wave of excitement and anticipation within the cryptocurrency community, with investors eagerly awaiting potential developments that could significantly impact the crypto landscape in the country.
Cryptocurrency investors are hopeful for a positive shift in the tax landscape, anticipating a potential reduction in the tax on crypto profits from the existing 30% to a more favorable range of 10-15%. The persistent call for a friendlier tax environment has been a long-standing demand within the crypto community.
Reports suggesting a reduction in the Tax Deducted at Source (TDS) on cryptocurrencies from 1% to 0.01% have fueled optimism among investors. A substantial decision on TDS in the Union Budget would undoubtedly be welcomed by the crypto community, shaping the financial landscape for these digital assets.
Investors are keenly awaiting significant announcements related to cryptocurrency regulations. The Finance Ministry, under the chairmanship of India, may unveil updates on the regulatory framework in progress, providing clarity on the future path for cryptocurrency in the country.
Expectations include updates on India's Central Bank Digital Currency (CBDC) e-Rupee. Investors are eager to learn about the current number of retail users and the growth in CBDC usage, as insights into the development of digital currencies become increasingly crucial.
Anticipation grows for the government's stance on unregistered foreign crypto exchanges. Investors await Finance Minister Nirmala Sitharaman's comments on recent global crypto events, such as the SEC approving 11 spot Bitcoin ETFs. The budget speech is eagerly awaited for insights into India's evolving position in the crypto landscape.
