India Seeks Crypto Platforms’ Input to Rework Tax Rules

- India’s CBDT reviewing crypto tax laws with industry feedback. - Dialogue to focus on OECD standards and trader concerns. On August 18, 2025, Cryptopolitan reported that India’s tax authority has initiated consultations with cryptocurrency platforms to overhaul its virtual asset taxation rules. The Central Board of Direct Taxes (CBDT) aims to address several key issues, including high tax rates, deductions for transactions, and rules for offsetting losses. The CBDT also plans to align Indian regulations with global standards set by the Organisation for Economic Co-operation and Development (OECD). This effort shows India's growing focus on establishing a comprehensive legal framework for the crypto industry, as current tax policies have sparked concerns among traders and investors. In response, the CBDT is engaging with stakeholders to adapt regulations and support the industry’s growth. This move comes as global scrutiny of Virtual Digital Assets (VDAs) escalates, with governments worldwide aiming to balance innovation with mitigating risks like money laundering and tax evasion. By aligning its rules with OECD frameworks, India positions itself to set a benchmark for transparency and ensure compliance with international standards. According to CoinMarketCap, Ethereum (ETH) was trading at $1,853 as of August 18 at 12:00 UTC, reflecting a 4.2% increase in its 24-hour trading volume.