Article Details
  • Published Online:
    April  2025
  • Product Name:
    The IUP Journal of Law Review
  • Product Type:
    Article
  • Product Code:
    IJLR050225
  • DOI:
    10.71329/IUPLR/2025.15.2.45-56
  • Author Name:
    Sridevi D Shet
  • Availability:
    YES
  • Subject/Domain:
    Law
  • Download Format:
    PDF
  • Pages:
    45-56
Volume 15, Issue 2, April 2025
Evolution of Cryptocurrency Regulations in India: Navigating the Legal Challenges
Abstract

The evolution of cryptocurrency regulations in India has been marked by substantial legal uncertainties and regulatory challenges. The Indian government has positively adjusted its legal framework to adapt to the developing cryptocurrency marketplace. After first cautioning users, the Reserve Bank of India (RBI) in 2018 imposed restrictions on banks dealing with cryptocurrency transactions. This stirred up a legal case in the Supreme Court, which eventually lifted the restrictions. Since then, various regulatory measures have been introduced by the Indian government, which include tax, money laundering, and counterterrorism financing laws. This paper examines the trajectory of cryptocurrency regulations in India, analyzing key legislative developments, judicial interventions, and policy proposals.

Introduction

Blockchain-based cryptocurrencies represent a groundbreaking innovation in the financial sector and have increasingly drawn the attention of global investors, central banks, and policymakers. India, with its thriving fintech industry and a tech-savvy population, is at the forefront of cryptocurrency revolution.