High tax and no banking support damage crypto industry, Pushpendra Singh notes

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Yaroslav Dmytrenko

02.07.2026

High tax and no banking support damage crypto industry, Pushpendra Singh notes — Crypto tax criticized for high rates

Pushpendra Singh, crypto educator and blockchain enthusiast, criticizes the current crypto taxation structure, highlighting a 1% TDS, 30% tax, no allowance for loss setoff, and lack of banking support.

Pushpendra Singh urges policymakers to reduce the high tax burden on crypto transactions, describing the existing framework as the worst crypto taxation system.

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Singh has raised market concerns in previous commentary. In May 2026, he reported that the Reserve Bank of India sold $12 billion of gold to defend the country's forex reserves. Earlier this year, he noted that Bitcoin fell below $60,000 for the first time since October 2024.

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