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Indian Union Minister Jayant Chaudhary’s cryptocurrency investments grew 19% to $25,500, marking the second consecutive year a cabinet member has disclosed digital asset holdings. This comes as India tops global crypto adoption rankings while regulatory frameworks remain stalled due to RBI opposition. A new survey reveals 93% of Indians support crypto regulation while 84% call the current 30% tax rate unfair compared to traditional investments.
- 93% of surveyed Indians support crypto regulation while 84% consider the 30% tax rate unfair compared to traditional investments
- RBI opposition stems from concerns that regulation grants legitimacy and stablecoins could fragment India's UPI payment system
- The regulatory vacuum has pushed 80-85% of India's top crypto talent abroad and created uncertainty for banks considering stablecoin integration
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