CoinDCX CEO: Budget 2026 Must Unlock India's Crypto Potential
Overview
CoinDCX CEO Sumit Gupta urges Budget 2026 to prioritize regulatory clarity, tax rationalization, and a level playing field for India's burgeoning crypto sector. Despite high adoption, the industry needs clear rules and revised VDA taxation to foster disciplined growth and attract further institutional investment.
Regulatory Roadblocks
India's cryptocurrency ecosystem faces a significant hurdle: a lack of clear regulatory guidelines. Sumit Gupta, CEO of CoinDCX, argues that this ambiguity is stifling growth in a sector where India ranks first globally in adoption and holds a strong position in blockchain development. Stakeholders are pressing for a structured consultation process and a phased regulatory roadmap to enable responsible business planning and long-term investment.
Taxing Digital Assets
The current taxation framework, particularly the 1 percent Tax Deducted at Source (TDS) on Virtual Digital Assets (VDAs), is identified as a friction point. Gupta suggests a recalibration of VDA taxation to improve liquidity and encourage onshore participation without compromising oversight. This adjustment is seen as crucial for fostering a more dynamic crypto market.
Leveling the Playing Field
A key demand centers on achieving parity between domestic and offshore crypto platforms serving Indian users. Gupta emphasizes that ensuring all entities adhere to the same tax and compliance standards will reduce regulatory arbitrage and reward transparent operations under Indian law. This move aims to create a fairer environment for all market participants.
India's Crypto Evolution
The Indian crypto investor profile has matured significantly since 2021. While early adoption was driven by young users, the average CoinDCX investor is now around 32, exhibiting a preference for fundamental assets like Bitcoin and Ethereum. This evolution, coupled with global institutional validation and increasing dialogue around digital assets, signals a shift from speculative interest to disciplined portfolio inclusion.
