Indian officials are engaging in regular meetings with domestic crypto industry leaders, showing a notable reversal from their previous hardline stance.
The crypto industry in India is lobbying for reduced taxes, with the current 30% capital gains tax on digital asset transactions being criticized for stifling innovation.
The change in policy is partly influenced by ongoing trade negotiations with the U.S., where regulatory clarity on digital assets is gaining traction.
While no regulatory changes have been confirmed yet, insiders see this as the most constructive dialogue the Indian crypto industry has had with the government, potentially leading to tax relief or updated legislation.