India’s Crypto Policy Set for June, But ‘No Regulation Yet,’ Says CoinDCX CEO

On May 30, Sumit Gupta, co-founder of CoinDCX, shared his views on X (formerly Twitter) about Indian Crypto Policy. India is set to publish a long-awaited discussion paper in June 2025. He called it a “finally” moment for the Indian crypto ecosystem. This discussion is mainly focused on policy frameworks for regulating crypto assets This development comes as the country adopts a cautious stance amid rising global interest in digital currencies The paper is expected to seek public comments and draw from international standards. It aims to inform future regulations while considering India’s national security and financial stability. No formal commitment to regulation is expected yet, keeping in line with the government’s measured approach.

Sumit Gupta Calls It a Milestone for Indian Crypto Sector

Sumit Gupta welcomed the news of the upcoming discussion paper. Posting on X, he said the paper would highlight key sectoral risks and invite public feedback. Gupta called this a crucial opportunity for Indian crypto investors, industry players, and the media to shape policy. He said this move represents a clear shift in how India engages with the crypto industry. It gives stakeholders a much-needed platform to express their concerns and share suggestions. Gupta pointed out that the Financial Stability Board (FSB) had launched a thematic peer review earlier this year. He added that a global report from the FSB is expected to be released by October 2025. Calling this the “decade of Indian builders,” Gupta urged the community to work toward making India a global Web3 hub.

Global Trends Shape India’s Policy Framework

India is aligning itself with the growing global acceptance of cryptocurrencies, especially in developed countries. The momentum has picked up further after U.S. President Donald Trump openly expressed his support for digital assets. India’s upcoming paper is expected to reference frameworks from the International Monetary Fund (IMF) and the FSB. The document will analyze practices from various jurisdictions and invite feedback on their applicability in India. This reflects the country’s intent to learn from international examples while tailoring its own path. The paper does not signify an immediate regulatory rollout but rather signals the beginning of structured dialogue. Officials have stated that the Indian crypto industry must evolve under a transparent and secure environment.

Regulatory Measures Already in Place

Despite the absence of a full regulatory framework, India has introduced several interim controls. A 30% tax on gains from virtual digital assets is currently in place. This tax policy doesn’t validate crypto tokens as legal tender. Each crypto exchange that is set to operate in India needs to register with the Financial Intelligence Unit (FIU). This step is mainly to ensure the security and give confidence to users in crypto trading. Although, RBI continues to express concerns over money laundering and cyber crimes. To change this RBI is developing its own Central Bank Digital Currency (CBDC). It sees this as a more secure and reliable option compared to private cryptocurrencies

Outlook: A Balancing Act Between Innovation and Security

Sumit Gupta’s view on the June 2025 discussion paper is expected to open a national dialogue on how India should regulate its crypto ecosystem. The Indian government aims to balance the need for innovation with the imperatives of financial security and public interest. India’s cautious approach contrasts with the more aggressive adoption seen elsewhere, but it is rooted in the country’s complex financial landscape. By inviting feedback from all stakeholders, including the Indian crypto industry, the government hopes to arrive at a well-informed policy. With global developments and domestic voices converging, the upcoming paper could define India’s stance on crypto for years to come.