🇮🇳 India’s Crypto Regulation Remains Fragmented | Uncertainty Persists
India continues to regulate crypto through piecemeal policies and enforcement actions, without a clear, unified legal framework. While authorities have introduced taxation and AML compliance for virtual digital assets, cryptocurrencies still lack a defined legal status.
The RBI remains cautious, citing financial stability risks, while the Ministry of Finance tightens oversight via reporting and tax rules. However, crypto assets have not been formally classified as securities, commodities, or a distinct asset class — creating regulatory overlap and uncertainty.
This fragmented approach raises compliance costs, complicates institutional participation, and limits long-term planning. Until comprehensive legislation is introduced, India’s crypto market is likely to stay in a transitional regulatory phase.
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