📅 would passibly 23, 2025
The discussion has once again intensified about virtual belongings and cryptocurrencies in India. This time the initiative has been taken by Lok Sabha MP GM Harish Balayogi, who has appealed to the Government of India to play a role as a leader in Crypto Rules and arrange clear rules in this sector. He believes that this time is decisive for India, when he can establish himself as a strong and guiding country in Global Digital Asset Ecosystem.
Steps on Crypto are increasing on World Stage
In the last few years, countries around the world have moved fast towards adopting cryptocurrency. Now the matter is not limited only to adopt it, but the countries are focusing on making it more transparent and safe.
In the US, the government, led by Donald Trump, has now started emphasizing a systematic regulatory system, moving beyond the Strict Enforcement Policy. At the same time, Switzerland is bringing clear guidelines for Crypto and StableCoins through the new law, so that the overlap between the agencies is over and it is easy to adopt the Crypto Sector.
Strong initiative in Europe and Asia
The European Union has also implemented ‘MICA (Markets in Crypto-Aassets)’ for virtual belongings, which sets a similar rule for all members countries. This ensures the safety of investors, transparency and market stability.
Many countries have also taken progressive steps in Asia.
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Hong Kong and Singapore have created a clear regulatory framework between Crypto Traders and Innovation.
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Japan has tightened the rules of VASP (Digital Asset Provider Supplier).
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Security and reserve laws are almost ready in South Korea.
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At the same time, Progressive Regulatory Mechanism like VARA and FSRA in UAE (United Arab Emirates), Fintech is becoming leaders.
Regulation still incomplete in India
On Monday, the Supreme Court gave a big statement on Cryptocurrency and said that Cancel should not be applied on cryptocurrency, it is necessary to do Keep an eye on. Banning it in India is neither practical nor financially beneficial. In the opinion of the court, instead of preventing this emerging technology, there is a dire need to make strong and sensible rules for this, so that it can be controlled in the right direction.
Based on my years of Crypto Revel in, I clearly believe that while there is clarity about cryptocurrency worldwide, there is still no concrete regulation in India. The government has so far noticed the tax and monetary tracking, but no primary regulatory framework has been implemented yet.
This situation is contrary to India’s digital leadership – such as UPI, Aadhaar and ONDC.
MP Balayogi warned that if India does not bring Crypto Law soon, both investment and innovation can go out of the country. He suggested that clear law should be enacted on Crypto as soon as possible on the basis of a discussion paper.
Supreme Court also supported regulation
Recently, Ideal Court Docke asked the central government why no concrete rules have been made for Crypto till now. Justice Kant said that he had asked the same question to the Attorney General two years ago, but in response only the challenge of the global market was described. He described it as inadequate reason and said that new rules are coming in the world over time. He also said that due to lack of rules, it becomes difficult for the court to settle the Crypto case. ASG Aishwarya Bhati assured the court that a progressive report would be given by July by taking guidelines from the government.
India has the opportunity for global leadership
The G20 is the second anniversary of the Delhi announcement in September 2025 and a review of Monetary Balance Board is proposed in October. These opportunities can give India an opportunity to leadership of Virtual Asset Law at global level.
If India Cryptocurrency If he makes rules soon, he can become a global reference point just as UPI is seen in the world today.
Conclusion
MP Balayogi’s appeal is favorable to time. India has technology, financial and digital power, just a clean, solid and visionary crypto coverage. If the government gives it priority, India can become a global guide in this fast growing digital sector.
