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Below the Expectations on Pre Budget by Shivam Thakral, CEO of BuyUcoin, India`s second-longest-running digital asset exchange

As Finance Minister Nirmala Sitharaman prepares to present the Union Budget 2025, we at BuyUcoin hope to see big steps forward for India's Web3 industry. The cryptocurrency sector has faced numerous challenges, particularly due to the high taxation imposed since 2022. We think the government will recognize the need for a more favorable regulatory environment, which includes lowering the current 1% TDS and 30% capital gains tax on virtual digital assets (VDAs) to levels that help the industry grow and come up with new ideas.

For 2025, we'd like to see policies that not only get people to invest but also bring talented folks back to India, helping Web3 startups thrive. The government can make the most of blockchain technology and decentralized finance by setting clear guidelines and changing tax rules. We believe that if the upcoming budget includes helpful measures, India can become a world leader in Web 3. This is an opportunity for the government to solidify its commitment to building a strong digital economy that benefits all stakeholders involved.

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