EddieJayonCrypto
21 May 25
India’s Supreme Court has urged regulatory authorities to establish clear guidelines for cryptocurrency regulation instead of imposing an outright ban. The court highlighted the integration of crypto into India’s financial system, citing the existing 30% tax on crypto gains, and called for a governa...
India’s Supreme Court has called on regulatory authorities to formulate clear cryptocurrency guidelines that emphasize oversight and innovation rather than enforcing a complete ban.In response, a multi-agency task force comprising technical experts is preparing a discussion paper aimed at shaping the country's future crypto policies.With India’s crypto market rapidly growing, the Supreme Court pointed to the existing 30% tax on crypto gains as evidence of crypto’s integration into the financial system and urged for a governance framework that balances innovation with investor protection.Industry leaders are optimistic that regulatory clarity could significantly benefit India’s digital economy, potentially contributing an estimated $1.1 trillion to the GDP by 2032.Recent government measures to enhance crypto tax compliance include mandating detailed reporting from crypto firms, aligning India’s regulatory efforts with international standards amid the country’s position as one of the top global crypto adopters.The Supreme Court’s emphasis on collaboration between regulators and technical experts signals a move toward measured regulation that fosters the sector’s growth while safeguarding stakeholders.This judicial stance mirrors broader trends where policymakers worldwide prefer structured oversight over prohibitive bans, acknowledging cryptocurrencies’ increasing role in global finance and innovation.