India, Kazakhstan Accelerate Crypto Regulation Amid Economic Losses

India and Kazakhstan are intensifying efforts to regulate their cryptocurrency sectors amid significant economic losses and industry challenges. India, initially strict with a 30% capital gains tax and 1% TDS on crypto transactions, is showing signs of a policy shift with increased government engagement and lobbying by industry leaders seeking tax relief to foster innovation. The Indian Supreme Court has urged the government to expedite regulatory frameworks, warning that unregulated crypto trading risks illegal activity and harms the economy. Kazakhstan, once a leading Bitcoin mining hub, has seen a sharp regulatory clampdown to control illegal mining and capital flight, with estimates of $15 billion lost to unregulated crypto outflows; it is now focusing on licensing, legal clarity, and monitoring systems to curb illicit transfers. Both countries aim to balance innovation with control, reflecting a broader trend in Asia towards more structured crypto markets, paralleled by South Korea's recent regulatory reforms emphasizing investor protection, AML/KYC compliance, and taxation to create a safer and more transparent environment. These developments highlight a regional push to create credible, regulated crypto ecosystems that mitigate risks while enabling sustainable industry growth.