Crypto Regulation India: Is Government Silence Holding Us Back?

Why Crypto regulation India in the news?

State's Finance Ministry has clarified that the decentralized currency is still unregulated. However, platforms offering services to nation users must now register with FIU-IND. And those who don’t follow the rule may get flagged. A clear virtual asset law is still missing but checks have already started.

Bitcoin enthusiast and Software engineer, Sapna Singh has recently shared a post on her X handle targeting the Minister of State (MoS) for Finance Pankaj Chaudhary regarding the collection of data .

Source: X

It's been so long to present a final guidelines or reports for it because of this Crypto regulation India exchange still falls into a grey area as it is neither legal nor illegal. What’s the matter lets understand in a better way.

Why Crypto regulation India Has Not Any Data?

This marks a big question on the Finance Ministry, neither making the Crypto regulation India completely legal nor illegal. What actually it wants from the  investors.

So, there could be many reasons behind this:

• No clear rules : If a country had proper laws over it, it could take action accordingly . This allows many government departments to get away from their duty because of no clear rules to follow.

• Focus on tax: Collecting tax over 30% crypto, 1% TDS  and not providing any perks to investors shows that the government is focusing on increasing only its reserve.

• Do not want to give approval for decentralized currency: As it will allow it to stay away from it and gain profits indirectly.

• Silently watching other countries: As decentralized rules are still changing in many countries, it might be a reason that the country is watching them silently and taking action accordingly.

But if it goes in this way, does compete globally in every aspect is a big question mark.

Compete Globally: Without a proper Crypto regulation India Policy or Data?

As most of the countries are actively participating and investing in the decentralized platform and some have the roots like the U.S, Japan and Singapore and even Pakistan. But nation is still confused!

Many countries like the US and Singapore are growing fast with making big profits. the country is strong in tech and defense, but ignoring it could hold us back. If Crypto regulation India brings clear rules and lets people invest freely, it can boost the economy and help millions, especially the middle class, earn better and improve their lives.

As the government is working on it for 5 years but still no data, marks a question mark on the Finance Ministry of the nation. Let’s clear it out.

5 Years, 0 Data: What Is the Finance Ministry Waiting For?

It has been 5 years and still has not collected any proper usage data. While the world moves ahead our Finance Ministry remains silent.

Without data how will smart rules be made? It is the time to stop watching from the sidelines and start building a clear future-ready policy.

Even Pakistan Eyes digital asset, Why Is it Still Falling Behind?

The nation has spent the last 5 years doing nothing on digital asset, while Pakistan has already taken its first steps . If country keeps delaying, Pakistan could soon become a serious player in the space leaving state to fall behind.

What’s next?

Crypto regulation India enforces platform registration, collects taxes, yet delays clear laws, risking global lag while others like Pakistan advance fast.