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Interim Budget 2024: FM Nirmala Sitharaman excludes update of crypto regulations and taxes
As per reports, BWA said that India leads in grassroots crypto adoption in the world and is the second largest market in terms of transaction volumes in 2023.
The Indian government has been going back and forth with the Indian crypto industry in the past few months to meet some of their demands. (Representational Image via Unsplash)
FM Nirmala Sitharaman’s Interim Budget 2024 excluded any update on crypto regulations and taxes. This, while India continues to work alongside the G20 nations to formulate global regulatory framework on cryptocurrency and blockchain.
The Indian government has been going back and forth with the Indian crypto industry in the past few months to meet some of their demands.
The crypto industry too didn’t have hopes from this year’s budget considering it is an interim budget, ahead the upcoming elections. In their recommendations, the industry body Bharat Web 3 Association (BWA) asked for regulatory tightening of offshore exchanges, and represented its demand for rationalisation of taxes.
As per reports, BWA said that India leads in grassroots crypto adoption in the world and is the second largest market in terms of transaction volumes in 2023.
SPOTLIGHT
The Storyboard18 Digital Entertainment Summit (DES) unpacked India's strategy for leading the digital entertainment economy, with top policymakers where they putlined how talent, technology, and governance would fuel future-ready growth.
Read MoreIn Photos: At DES 2025, India charts ambitious course for digital entertainment leadership
At the Storyboard18 Digital Entertainment Summit in New Delhi, policymakers and industry leaders outlined how talent, technology, and governance will drive India’s push to dominate the global entertainment economy.