Indian crypto educator Sujal Jethwani states that the mounting user demand for cryptocurrencies will force the government to reconsider its strict approach to digital assets.
Increased Interest in Crypto Assets
Sujal Jethwani, an active community member with approximately 400,000 social media followers, noted a significant migration of investors from traditional markets to cryptocurrencies. 'All stock market and forex traders are moving to crypto,' he told reporters. 'There is a huge surge of crypto traders and investors in India right now. People are not going to leave it.'
Why Government Change Is Necessary
Statista projects India's cryptocurrency market will reach $6.4 billion by 2025, with over 107 million users accounting for 7.35% of the population. This creates economic and political pressure that is becoming increasingly hard to ignore. Recent political developments have seen representatives from the ruling party calling for the creation of a sovereign Bitcoin reserve and clearer regulations in the crypto space.
Transformation of Industry Depends on Regulatory Development
India's position in the global cryptocurrency ecosystem reflects broader tensions between innovation and control. Current high taxes and a lack of clear regulations place the country in a unique position compared to others. However, rising institutional interest in cryptocurrencies and increased retail involvement creates pressure for the government to alter its stance.
The growing interest in cryptocurrencies in India and its potential economic benefits may serve as a catalyst for the reevaluation of government policy regarding digital asset regulation.
