Archive · 17 Nov 2025
India's Crypto Conundrum: Unregulated Market, Growing Investors, No Clear Law
Imagine a big, popular party (cryptocurrency market) in India with 119 million people.
The party has no rules or bouncers (no clear law), so some people are getting hurt (investors at risk), and others are worried (industry representatives).
The police (Government) know about the problems but haven't decided what to do yet (working on a discussion paper).
Some people think the party should have rules (industry representatives), but others aren't sure (Government).
Meanwhile, the party keeps growing, and more people are joining every day.
Cryptocurrency market in India has grown to 119 million users with a projected market size of $15 billion by 2035
No clear law governing cryptocurrencies, despite regulatory attempts like taxing profits and transactions
Supreme Court has called for a 'clear cut' policy on virtual currency, noting its potential for fraud and risk
Industry representatives urge for clear, consistent policies to foster growth and protect investors
Government is working on a discussion paper and separate framework for law enforcement agencies
- Who
- Cryptocurrency investors and industry representatives in India
- What
- Growing unchecked cryptocurrency market with no central law
- When
- Present day, with a market size of $2.6 billion in 2024 and projected to reach $15 billion by 2035
- Where
- India
- Why
- Lack of clear policies and regulations exposes investors to risks and hinders industry growth
Industry Representatives
Government
Policy Certainty
Industry Representatives
Urge for clear, consistent policies to foster growth and protect investors
Government
Working on a discussion paper and separate framework for law enforcement agencies, but not keen on a legislative framework
- Market Size in 2024
- $2.6 billion
- Projected Market Size by 2035
- $15 billion
- Number of Investors
- 119 million
- Tax on Income from VDAs
- 30%
- TDS on Every Crypto Transaction
- 1%
