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Regulatory Paralysis or Deliberate Deterrence? Reassessing India’s Fragmented Cryptocurrency Governance Framework
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Regulatory Paralysis or Deliberate Deterrence? Reassessing India’s Fragmented Cryptocurrency Governance Framework

India’s cryptocurrency governance is a fragmented system of "deliberate deterrence" rather than cohesive policy. By leveraging tax penalties and AML mandates without formal legal definitions, the state stifles domestic innovation and drives capital offshore. Comprehensive reform—including statutory classification and rationalized taxation—is essential to transition from paralysis to global leadership.

Karunya Swaminathan

April 26, 2026