PANews reported on May 27 that according to the Financial Times, the Indian cryptocurrency industry is actively lobbying the government to reduce taxes in order to seize the opportunity of warming policies. Since Trump supported cryptocurrencies, the Modi government has become more receptive to the industry, and the frequency of meetings between the two sides has increased significantly. Currently, India imposes high taxes on crypto transactions, resulting in more than 90% of transactions flowing overseas. With the change in policy attitudes, international exchanges such as Binance have returned to the Indian market, and the market size is expected to grow significantly. Although the February budget did not adjust taxes, the Secretary of Economic Affairs said that the policy document would be re-drafted. The Reserve Bank of India has also softened its attitude, and the new governor is waiting for government policy guidance. The industry calls for a reduction in transaction tax to 0.1% to balance regulation and market development. Industry insiders predict that it will take two years for a comprehensive regulatory framework to take shape, and the Indian government may guide the return of overseas transactions through tax adjustments.