India revisits Crypto stance as nations ease regulations

India Reassesses Crypto Stance Amidst Global Shift

As per Reuters, citing a senior official, India is reviewing its stance on cryptocurrencies. Economic Affairs Secretary Ajay Seth noted that several jurisdictions have altered their perspectives on crypto usage and acceptance.

Shifting Attitudes

Experts believe India's reconsideration stems from Donald Trump's pro-crypto stance, which could influence other nations with strict digital asset regulations. However, speculations indicate that India may maintain its initial decision against legalizing crypto.

Trump's recent order urges U.S. regulators to examine existing rules affecting the growth of digital assets.

Corporate Interest

In recent months, major institutional investors have shown interest in the digital asset sector. Telecommunications giant Jio partnered with Polygon Network to enhance services for its vast user base, with rumors of a native token launch pending an official announcement.

In January 2025, Birla Institute introduced a blockchain-based campus currency to create a secure and decentralized ecosystem.

India's Crypto Landscape

Despite India's high crypto adoption rate, harsh taxes and regulations have hindered retention. Experts believe these developments could shape the future of crypto in India and Asia.

Crypto Market Update

At the time of publication, the cryptocurrency market capitalization stood at $3.07 trillion, down 9.63%. Trading volume surged by 177.91% to $303.01 billion.

Market analysts attribute the increased volume to a shift in sentiment, leading to significant selling pressure.

Bitcoin declined to $94,293, marking a 5.84% intraday drop and a 4.90% weekly loss. Ethereum lost 18% of its value, now trading at $2,553.

Notable losers in the past 24 hours include Dogwifhat, Floki, Filecoin, Bonk, Pepe, Jasmy Coin, Toncoin, XRP, Uniswap, Dogecoin, and Maker.