India plans to release a discussion paper on cryptocurrency regulation in June 2025, amid rising attention to digital assets.
Preparation of the Discussion Paper
According to sources, India is close to completing a discussion paper that will be presented to the public next month. The document aims to explore international regulatory experiences and gather public feedback.
India's Stance on Cryptocurrencies
While India has introduced a 30% tax on cryptocurrency gains, the government emphasizes that this does not equate to granting legal status to digital assets. The regulatory body has expressed concerns regarding the potential risks associated with cryptocurrencies.
Global Influences
The global movement favoring cryptocurrencies, initiated by the Trump administration in the US, has also influenced India's changing stance. Leading entrepreneurs express hope for clearer regulatory frameworks that will aid in developing the crypto ecosystem.
The upcoming discussion paper may represent a significant step towards regulating cryptocurrencies in India, providing clearer guidance for investors and companies in the digital asset space.
