Binance Chief Says India's Crypto Tax May Kill the Sector

Changpeng Zhao, CEO of Binance, has voiced serious concerns about India's crypto tax regime, stating that high taxes on cryptocurrency transactions in India will “kill the sector.” Speaking at a fintech conference in Singapore, Zhao, also known as CZ, argued that the onerous tax structure is a bane for the industry.

Zhao Changpeng stated that by charging high taxes, the Indian government seeks to limit the trading of digital assets in the country. However, Binance CEO Zhao Changpeng has warned that India’s high taxes on cryptocurrency transactions could be detrimental, potentially crippling the burgeoning crypto market.

Binance Holding Ltd. Chief Executive Officer Zhao “CZ” Changpeng said India’s onerous taxes on cryptocurrency transactions would probably “kill the industry” there. The impact of higher taxes in India may kill the cryptocurrency trade in the country entirely.

The formation of a new crypto-focused squad in India highlights the government's attention to digital assets. NEW DELHI: High taxes on cryptocurrency transactions in the country may “kill the industry” in India, Binance chief executive Changpeng Zhao said on Thursday. Binance CEO Changpeng Zhao said India's burgeoning crypto tax regime is a bane for the industry.

While the UK government faces calls from BT to extend its 130% tax relief, India is taking a different approach that could severely impact its crypto sector. India will lead the G20 nations for a year beginning in December 2025, putting the spotlight on its economic policies, including its approach to crypto regulation and taxation.