The core issue is regulatory lacuna — there is a lack of user accountability, user protection and trans-jurisdictional law enforcement. While gains through crypto transactions are heavily taxed, there is minimal verification of the legitimacy of the crypto assets. Crypto transactions are inherently international. India must urgently implement a licensing regime for crypto-centric issuers, modelled on the European Union’s Markets in Crypto-Assets framework. Countries like the United States of America and Singapore have implemented innovative measures of regulatory sandboxes while ensuring digital security.

Source: The Telegraph December 31, 2025 02:53 UTC