1 August 2026
India to Experiment with Some Cryptocurrencies : Finance Minister
Nirmala Sitharaman- India’s Finance Minister, pauses the growing speculation about the crypto ban by announcing that India “will not shut off all cryptocurrency” and instead allow some “experiments” with the technology as an alternative form of payment.
These encouraging words come just when there were multiple news flashing worldwide alongside India’s central bank (RBI), hinting at the crypto ban for a few months.
This statement emerged as a massive relief to the Indian crypto community, waiting for some positive developments in this matter for a long time. The Indian Finance Minister’s statement parallels Bitcoin (BTC), hitting its all-time high of $61K.
From the finance ministry’s side, we are very clear that we are not shutting all options. We will allow a separate window for people to do experiments on blockchain, bitcoins or cryptocurrency. We are not going to shut it off at all, Sitharaman affirms.
Additionally, Sitharaman acknowledged the ongoing FinTech developments in India. She proposed that blockchain technology is the backbone of FinTech and crypto, and thus there should be a window available for some experiments.
She further added, on FinTech, on the blockchain, there is a lot of work going on in India, and we will certainly encourage that. We have got several presentations. Much work at some state levels is happening. And we want to take it in a big way in IFSC or Gift City in Gandhinagar.
Nischal Shetty- CEO of India’s largest crypto exchange WazirX praised the Finance Minister’s recent statement and expressed his gratitude.
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