India is reassessing its cryptocurrency regulations in response to evolving global policies, with officials revisiting a discussion paper that could reshape the country's approach to digital assets. According to Economic Affairs Secretary Ajay Seth, India is reevaluating its regulatory framework following changes in the stance of multiple jurisdictions towards cryptocurrency. The recent shifts in US crypto policy, including President Donald Trump's support for digital assets, have influenced India's reassessment. The departure of the strict oversight of Gary Gensler as SEC Chair, along with the appointments of a crypto czar and a pro-bitcoin Treasury Secretary, suggest the possibility of clearer and more lenient regulations in the US. Discussions have also emerged in the US about recognizing bitcoin as a strategic reserve asset, with several states proposing legislation to classify it in this way. Other nations are also considering similar policies, indicating a global trend towards integrating bitcoin into national economic frameworks. Despite industry calls for tax reforms, the latest national budget in India did not address cryptocurrencies. Currently, India imposes a 30% tax on gains from crypto transactions and a 1% tax deducted at source (TDS), which many argue hampers innovation and market activity. The reassessment process has cast doubt on the timeline for the release of the government's discussion paper on cryptocurrencies, which was originally planned for September 2024. The uncertainty continues to surround India's regulatory approach to digital assets.