News

India Will Have A Measured Approach to Crypto Regulations Says Finance Minister

Indian finance minister assured that the government will seek a balance approach on crypto regulations.
Published by
India Will Have A Measured Approach to Crypto Regulations Says Finance Minister

Amid all the pessimism surrounding crypto regulations in India, Finance Nirmala Sitharaman has finally cleared some air. During her recent interaction at Stanford University, Sitharaman said that India will have a measured approach to the regulation of digital assets.

She assured that the government won’t rush through with its decision of regulating crypto. Sitharaman added:

“It will have to take its time…all of us to be sure that at least with a given available information, we’re taking the decern decision. It can’t be rushed through”.

India has so far accepted a tough stand towards digital assets. Earlier this year in February 2022, the government announced a 30% tax on digital asset gains, one of the highest in the world. This has deterred a lot of investors to participate in the crypto space. Besides, we have also witnessed a drop in the crypto trading volumes on Indian exchanges.

On the other hand, exchanges are having a tough time dealing with fiat payment systems such as UPI. NPCI, the regulatory body behind UPI, has also flagged some of the top exchanges such as Coinbase and WazirX for using the UPI payments method.

But despite this, exchanges have been keen on setting up their base in India. They’re confident that the regulations will evolve over time thus eyeing big opportunities in the Indian market.

Indian FM: Won’t Stifle Crypto Innovation

During her recent address at Standford, the Indian FM assured the diaspora that the government’s goal is not to stifle innovation in the crypto space. They also look forward to promoting new developments in blockchain. Finance Minister Sitharam said:

“So, our intention is in no way to hurt this (innovation around crypto)…but (we need to) define for ourselves…”

The FM also cited concerns over the use of crypto for money laundering and illicit financing. At the same time, the Indian government is quite positive about having its own central bank digital currency (CBDC).

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana

Leading asset manager ProShares is seeking to establish a new crypto ETF tracking the CoinDesk…

October 22, 2025
  • News

Trump Says Meeting with China May Not Happen, Bitcoin Drops

U.S. President Donald Trump has cast doubts over his meeting with China's President Xi Jinping.…

October 21, 2025
  • News

The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013

Experts have indicated that a rotation might be occurring with investors moving from gold to…

October 21, 2025
  • News

Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill

Crypto and AI Czar David Sacks is set to meet with Republican members of the…

October 21, 2025
  • News

Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails

Federal Reserve Governor Chris Waller has floated the idea of a 'Payment account' framework that…

October 21, 2025
  • Altcoin News

Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump

Aster is regaining momentum in the perp DEX space as it outpaces Lightchain in 24-hour…

October 21, 2025