India was also among the countries who charged very high tax to the crypto users. they charged like 31%, which is very high. Many indians were also complaining about how high tax in their country, but their gov didn't care.
Only crypto lobbyists will be able to convince government officials in India to change their mind about the crypto tax rate. If there's lots of money to be made, the Indian government will lower capital gains taxes on crypto without thinking it twice. Money talks, right? Even Pakistan who was against crypto, now decided to establish a Bitcoin reserve of its own.
Hopefully, Japan and others lower their taxes to help promote the healthy growth of the crypto industry. Otherwise, the crypto economy will go underground making it harder for governments to regulate it. Just my two sats.
