20 July 2026
India In Need Of Crypto Regulation: The Economic Times
Reportedly, India’s top finance newspaper, the Economic Times, was seen dedicating its entire front page demanding the government to provide regulatory guidance to the Crypto industry.
For a year, the Indian government has been sitting on a Crypto regulation bill. Whereas, amid the exponential rise in Crypto, the Supreme Court of India lifted the Reserve Bank of India’s two-year banking ban on Crypto exchanges in March 2020.
As of now, more than 10 million Indians have invested $80 Billion (INR 6 trillion) in Crypto. By revealing these staggering numbers, the finance newspaper, wrote, following the “massive” growth potential, India needs a “transparent and regulated environment.”
Adding further, Prasad Rane, partner at Legaligence Strategic Consulting LLP, said Coindesk, “The huge amount of Indian investor exposure to cryptocurrencies warrants quick action by the government on the regulatory front.” Emphasizing further, he stated, “The global anti-money laundering agency the Financial Action Task Force [FATF] has already identified crypto assets as a source of risk and recently published guidance to regulate the industry like banks. Our government is behind the curve.”
Apart from this, Rane was seen stressing over the matter where several terrorist organizations accept donations and process funding through Crypto assets, and it is challenging to keep track of their flow. To reduce this, regulation is the need of the hour.
Further, the Economic Times wrote that by lacking any regulatory guidance, Indian Crypto exchanges have committed to comply with a code of conduct drafted by the Blockchain and Crypto Assets Council (BACC) of the Internet and Mobile Association of India (IAMAI), an industry association.
Listed below are the key features of the Code of Conduct which ensures accountability, and customers protection:-
- Online KYC verification for all customers
- 100% compliance with law enforcement and tax authorities
- Checks to prevent fraud and market manipulation
- Investors education for investing and trading in Crypto Assets
- Audit trail of all transactions
- Grievance redressal and escalation matrix
Presently, India’s investment in Cryptocurrency has ballooned to $6.6 billion this year from $923 million last year, intelligence firm Chainalysis found in July.
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