Union Budget 2025: The perfect moment to explore the VDA opportunity
Bitcoin and cryptoassets in the US, have nearly cemented digital assets as a mainstream financial asset class. Emerging markets too are increasingly embracing cryptoassets to modernize their financial systems.
Amid this global momentum, India finds itself at a pivotal juncture, uniquely positioned to be a significant part of, and even lead, the global digital asset economy. Despite regulatory uncertainty and the risks involved, India is today a global Web3 powerhouse, contributing around 11% of the world’s Web3 developer base and ranking as the second-largest developer market globally. Indian founders now account for 5.4% of all Web3 startups worldwide, spearheading innovation across AI, DePIN (Decentralized Physical Infrastructure Networks), and scaling solutions.
The Union Budget 2025 offers India the perfect opportunity to align its Virtual Digital Asset (VDA) strategy with global advancements, fostering innovation and driving economic growth while solidifying its leadership in the evolving digital economy. The risks have been largely mitigated and work is underway to mitigate some more, but it is the opportunity that now needs some urgent attention.
For starters, India can consider the following tax related reforms to usher in Ease
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