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Bharat Web3 Association (BWA)

Industry association of Indian Web3 and crypto firms

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About

The Bharat Web3 Association (BWA) is an Indian industry body for Web3 and crypto firms. It was formed in November 2022 by companies including Polygon, Hike, CoinDCX, CoinSwitch, ZebPay and WazirX. It replaced the Blockchain and Crypto Assets Council, which the Internet and Mobile Association of India had wound up earlier that year.

Its members now include virtual digital asset platforms such as CoinDCX, Coinbase and CoinSwitch, infrastructure providers such as Ava Labs, and firms such as Liminal and Aptos. Dilip Chenoy chairs the association, and policy executives from CoinSwitch and CoinDCX sit on its board. It runs subcommittees on policy, legal, compliance and cybersecurity.

BWA lobbies on crypto tax, banking access and regulation. In July 2025 it was part of an industry delegation that submitted recommendations to the Parliamentary Standing Committee on Finance, which then chose virtual digital assets as a subject of study. BWA later gave evidence to that study. Before the 2026 Union Budget it asked for lower TDS on crypto trades and for losses to be set off against gains. It also runs consumer-protection work, including a cybersecurity alliance and an investor-awareness campaign.

Policy engagement

Pressed for crypto tax reform ahead of the 2026 Union Budget, proposing a cut in TDS on virtual digital assets from 1% to 0.1%, loss set-off and a regulatory mechanism for the sector.

Source: The Crypto Times, 7 Jan 2026

Key actions

  1. At a pre-budget session, BWA called for TDS on virtual digital assets to be cut from 1% to 0.1%, for losses to be set off against gains and for a clear regulatory mechanism for the sector.

    Source

  2. Joined an industry delegation that submitted policy recommendations to the Chair of the Standing Committee on Finance, which then chose virtual digital assets as a subject of study.

    Source

  3. Launched Crypto SAFE, a 100-day campaign to teach investors about crypto risks, common scams and wallet security.

    Source

  4. Launched the Alliance for Blockchain and Crypto Defence to share fraud intelligence and work with CERT-In, I4C and FIU-IND on cybersecurity.

    Source

  5. Formed by Indian crypto and Web3 firms as the successor to the disbanded Blockchain and Crypto Assets Council.

    Source

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