Raj Karkara, COO, ZebPay:
“It is pivotal for India to align its crypto policies with the global regulatory framework to fully harness the industry’s potential. We are hoping that the Union Budget 2025 will introduce progressive measures such as revisiting the 30% tax on crypto income and the 1% TDS mechanism. Simplified tax structures can encourage wider participation while boosting liquidity and trading volumes. Recognition of crypto as a formal asset class, with clear classifications, is another critical step. This clarity, coupled with robust regulatory guidelines, will not only safeguard investors but also provide a stable foundation for the industry’s growth.
Additionally, we look forward to policies that incentivize innovation, such as subsidies or tax breaks for blockchain and Web3 startups. Such measures will position India as a global hub for decentralized finance, digital identity solutions, and asset tokenization. Fostering institutional participation through clearer guidelines on custody, security, and compliance standards will enable the government to unlock significant potential in the crypto space. We believe these steps will pave the way for an inclusive, secure, and innovation-driven digital economy in India.”
