30 August 2026
India's Crypto Bill is Ready, Says FM Sitharaman
The much-awaited India's Crypto Bill will finally be presented during the Monsoon Session of the Parliament in July.
India, like many other major countries, will soon regulate cryptocurrencies. In a recent interview with The Hindu, Finance Minister Nirmala Sitharaman revealed that India's crypto bill is finally ready after two years of hard work. This bill was originally expected to be discussed in the Budget session but was shortened due to nationwide restrictions.
Speaking in the interview, FM also revealed that the lawmakers had considered the inputs from the crypto segment to prepare the document. The bill consisting of a regulatory framework could be up for debate during the next session of the Parliament on July 19.
India is well-known for its unclear stance on Crypto. The original Crypto bill was expected to 'ban all private cryptocurrencies.' It was rumoured to set a new framework to form a central bank digital currency (CBDC) that could be regulated. The government was believed to be against decentralized currencies. However, this has changed later.
Sitharaman earlier said that the government is considering a 'calibrated' approach to Crypto, ruling out chances of a ban on the same. This was once again questioned when the Reserve Bank of India (RBI) stopped banks from delivering services to cryptocurrency exchanges.
According to a recent report by Chainalysis, Indian investment in cryptocurrencies grew from $200 million in 2019 to $40 billion in 2020. The country has also approved several globally recognized projects like Polygon (ex-Matic), L2 scalability platform and the WazirX cryptocurrency exchange.
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