According to Bloomberg, major cryptocurrency participants are returning to India, betting that regulators may relax restrictions on digital asset trading. US exchange Coinbase Global Inc. recently registered with the Financial Intelligence Unit (FIU) in India as part of launching its retail trading platform and increasing its investment plans in the country. This measure was taken after competitors Binance, Bybit, and KuCoin registered locally, highlighting a renewed focus on the Indian market. The country had hoped to release a consultation document on cryptocurrency regulation after assuming the G20 presidency in 2023, but it has not yet been implemented. With the changing global policy landscape, led by Trump's pro crypto agenda in the United States, India is re examining this issue.
Ajay Seth, Secretary of the Indian Ministry of Economic Affairs, stated at a recent roundtable meeting that "multiple jurisdictions have significantly changed their positions in the past 12 months." He pointed out that the risks associated with using digital assets such as stablecoins and the potential of cryptocurrencies to promote multilateral capital flows may affect emerging economies such as India. He added, "We have prepared a discussion document, but due to these changes, we now need to readjust
