The apex court directs regulators to establish oversight frameworks that support innovation while protecting investors, as India ranks among top five countries for global crypto adoption.
India's Supreme Court has directed regulatory bodies to develop clear guidelines for cryptocurrency governance, emphasizing the need for oversight rather than prohibition. The court referenced India's existing 30% crypto tax as evidence of digital assets' integration into the financial system. A multi-agency task force has been established to prepare discussion papers for future crypto policies, with industry projections suggesting Web3 and crypto could contribute $1.1 trillion to India's GDP by 2032.