Indian Finance Minister Nirmala Sitharaman said in a speech announcing the 2024-2025 national budget on Tuesday that cryptocurrency taxation rules remain unchanged. The main demand of the Indian crypto industry is to reduce the controversial crypto transaction tax deduction (TDS) policy from 1% to 0.01%, and presented evidence from multiple sources to government officials, including a think tank study. The industry has also demanded that the government levy a progressive tax on earnings rather than a flat rate of 30 per cent, and allow losses to offset gains. It has also tried to promote multi-agency regulation.