India crypto regulation delay hits as Standing Committee cancels August 27 DEA hearing on Virtual Digital Assets, leaving 30% tax and 1% TDS in place for 100 million users.

According to Fox News, the House Budget chairman clarified that the Trump tax bill contains no 'pork' or unrelated spending, directly responding to criticism from Elon Musk (Fox News, June 6, 2025). This clarification is significant for crypto traders as tax policy changes can alter capital gains treatment and investor sentiment in digital assets. The chairman's statement may calm short-term volatility in the cryptocurrency market, as the absence of 'pork' suggests a focused approach to tax reform, reducing uncertainty for Bitcoin and altcoin investors.