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India's cryptocurrency industry has approximately 100 million users, but it is currently in a regulatory vacuum. Although trading is legal and the tax rate is high, due to the lack of a clear policy framework, it is expected that between October 2024 and 2025, up to 5 trillion rupees (approximately 5 trillion USD) in trading volume will flow to overseas exchanges. Industry insiders believe that this policy hesitation leads to losses in tax revenue, economic value, and regulation, and they are calling for the development of a coherent regulatory framework to fully realize the industry's potential and prevent losing leadership in the digital asset economy.