🇮🇳 India Signals Caution on Crypto

[ed]

India’s Minister of Commerce and Industry, Piyush Goyal, warned against crypto use during trade talks in Doha, citing risks and “very heavy” taxes on users. He alluded to a Reserve Bank-backed digital currency, signaling India’s preference for a controlled CBDC over decentralized tokens.

Despite India’s $300B in on-chain transactions last year, Goyal emphasized caution, highlighting concerns over unbacked digital assets.

[Rimon Khan]

Typical India — slow but steady approach. They’ll regulate before they expand.

[alex10]

Caution is good, but overregulation could slow innovation.