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India is exploring cross-border use of the e-rupee to reduce payment costs, improve trade settlement efficiency and expand the rupee’s global role.
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India News
India today is no stranger to the concept of Bitcoin (BTC) and cryptocurrency. Home to over 1 billion people, the South Asian country touts a population rivaling that of China. India, officially known as the Republic of India, is the second-largest country by population after China. The industry of cryptocurrency in India today still shows a country that is uncertain about the asset class.
In India, government bodies have discussed the country’s stance on cryptocurrencies for years. Although headlines have mentioned various possible cryptocurrency-related bans and regulatory moves — with people often asking, “Is Bitcoin legal in India?” — the country has yet to officially outlaw crypto on the whole. Companies focused on digital assets could not work with banks for a time, thanks to a 2018 ruling from the Reserve Bank of India, or RBI — the country’s central bank — but those restrictions were removed in 2020.
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The platform enables enterprises to use programmable stablecoins for payments and treasury while outsourcing custody, compliance and settlement.
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India wants BRICS members to discuss linking their CBDCs for trade and tourism at a future summit, according to a Reuters report.
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Industry leaders say transaction-level taxes and loss restrictions are draining liquidity as India tightens crypto compliance and enforcement.
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Tax and other regulatory agencies in India claim that cryptocurrencies and permissionless blockchain tech undermine tax collection.
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Officials told a parliamentary panel that private wallets, offshore exchanges and cross-border DeFi activity make tracking taxable crypto income difficult.
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India is urging other countries to develop CBDCs, and China is expanding the use of its digital yuan, allowing banks to offer interest on e-CNY wallets.
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Only three CBDCs have been successfully launched around the world so far, in Nigeria, the Bahamas and Jamaica, although many jurisdictions are considering it.
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The regulatory approval followed an October notice from Coinbase saying that the exchange would be investing an undisclosed amount into the Indian exchange.
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Coinbase has reopened India app registrations, with local fiat on-ramps planned for 2026 following a rocky exit more than two years ago.
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CoinDCX’s Sumit Gupta said crypto is becoming a natural extension of traditional investing as Indian traders mature.
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India’s government is considering adopting a stablecoin regulatory framework while the Reserve Bank of India urges a "cautious" approach.
9758 - Explained
A landmark ruling granting XRP property status in India strengthens investor rights and boosts confidence in digital asset ownership.
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Just a few weeks after a Singaporean court approved WazirX's parent company's restructuring plan, a decision out of one of India's courts may impact users.
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WazirX’s phased comeback begins Friday, offering 30 days of zero-fee trading as the exchange rebuilds liquidity and trust after a long hiatus.
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