India's crypto industry is advocating for tax reforms ahead of Budget 2026, focusing on reducing the 1% TDS and revisiting the 30% VDA tax to curb trader migration to offshore platforms. Since their 2022 implementation, these taxes have improved traceability but significantly reduced onshore liquidity and increased offshore trading volumes. Industry leaders warn that offshore trading risks consumer protection, tax revenue, and job losses while urging the government to foster a regulatory framework that balances compliance with innovation.