Budget Shock: Is the 30% Crypto Tax a Real Plan?
Manhar Garegrat, Country Head-India at Liminal Custody, glances at the figures as if they were neighbors in need of a visit. He says India’s crypto policy must mend its posture-toward market structure and sustainability-rather than hobble along with the old friction of taxes. The curiously stubborn friction, he suggests, is driving compliant trading to darker shores, like a misplaced umbrella blowing away in a crowd. He urges Budget 2026 to rethink transaction-level taxes and to entertain a VDA transaction tax model, so that crypto activity remains onshore, transparent, and somehow economically viable-like a lamp that doesn’t flicker every five minutes when you need it most.







