Cryptocurrency adoption in India continues to flourish despite the government's imposition of a 30% tax on crypto trading and a 1% tax deducted at source. The local community reports strong resilience among India's crypto users, with the ecosystem growing due to a vibrant tech-savvy population. Approximately 100 million Indians are now crypto owners, driven largely by a demographic under 25 years old, high smartphone usage, and affordable internet. ZebPay's COO Raj Karkara emphasized that India's crypto market remains vibrant and accessible, although the current tax structure discourages frequent trading. Experts like Ajay Kashyap and CoinDCX's Sumit Gupta noted that for India to fully unlock its crypto potential, a more flexible regulatory framework is needed, particularly regarding taxation. This sentiment is echoed by other local crypto leaders who believe that adjusting these policies could enhance broader participation and innovation in the cryptocurrency market.

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