Indian Lawmaker Urges Legal Status For Crypto, Stablecoins To Prevent Them Going Offshore: ‘Let Us Not Fear Innovation, Let Us Regulate It’

Raghav Chadha, a member of India’s upper chamber of Parliament, urged the government to establish a regulatory framework for cryptocurrencies and stablecoins in the country.

India’s Crypto Policies Under Scanner

In a speech in the Parliament on Monday, Chadha highlighted what he viewed as the paradox of taxing cryptocurrency gains at 30% without legal recognition, investor protections, or anti-money laundering frameworks.

“India taxes VDAs [virtual digital asset] like they are legal. But regulates it like they are illegal,” Chadha said.