20 July 2026
India Will Not Take a Rushed Decision on Cryptocurrency, Says Finance Minister
Recently, the finance minister of India, Nirmala Sitharaman, has brought certain clarity regarding Crypto regulations. At Stanford University, Sitharaman stated that India will have a measured approach to the regulation of digital assets.
Sitharaman said that government will not take any decision in a hurry to regulate Cryptocurrency. She further 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”.
Currently, India has been tough on digital assets. In February, the government announced a 30% tax on digital asset gains. This decision has discouraged a lot of investors to participate in the Crypto industry. Additionally, India witnessed a drop in the Crypto trading volumes on exchanges.
Simultaneously, exchanges are facing many issues with fiat payment systems such as UPI. The regulatory body behind UPI, NPCI, has flagged some of the top exchanges such as Coinbase and WazirX for using the UPI payments method.
In spite of such issues, exchanges are keen for setting up their base in India. They are confident enough that after sometime, regulations will evolve, thus eyeing big opportunities in the Indian market.
During her interaction at Standford, the Indian FM assured that the government’s goal is not to stifle innovation in the crypto space. Also, they are looking forward to promoting new developments in Blockchain technology.
The Indian FM also expressed her concern over the use of Crypto for money laundering and illicit financing. The government of India is quite confident about having its own central bank digital currency (CBDC).
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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