Can India Lead Crypto Regulation in 2025? Binance Thinks So

Can India Lead Crypto Regulation in 2025? Binance Thinks So

India is gaining recognition as a potential leader in global cryptocurrency regulation, with Binance expressing confidence that the country could take a pioneering role in 2025. Vishal Sacheendran, Binance's Head of Regional Markets, highlighted India's importance in shaping the future of crypto policy, stating:

“We are hopeful that in 2025, India will take the lead in forming progressive and comprehensive crypto regulations.”

This optimism aligns with growing industry momentum and a global push for clearer regulations to foster trust, encourage innovation, and expand blockchain utility.

2024: A Year of Crypto Milestones

The past year saw significant advancements in the crypto space, including the approval of spot Bitcoin and Ether ETFs in the U.S., which Sacheendran called a testament to the sector's resilience. The growing adoption of altcoins and institutional interest underscores the need for robust regulatory frameworks that balance stability with innovation.

Binance's Proactive Role in India

Acknowledging India's growing importance in the crypto ecosystem, Binance has strengthened its local presence. The company registered with India’s Financial Intelligence Unit (FIU) to align with regulatory changes.

“This step reflects our response to regulatory shifts and our renewed commitment to providing secure and compliant crypto services,” Sacheendran remarked.

Binance aims to focus on building trust, fostering collaborations with authorities, and enhancing blockchain's real-world utility in 2025.

India’s Evolving Crypto Regulatory Framework

India’s regulatory approach has transformed significantly over the years:

• 2019: Draft legislation proposed a total crypto ban, but it was never passed.
• 2023: During India’s G20 presidency, Finance Minister Nirmala Sitharaman advocated for global cooperation on crypto regulations.
• 2024: The Securities and Exchange Board of India (SEBI) proposed a multi-regulator model, moving away from exclusive oversight by the Reserve Bank of India (RBI).
• Taxation: India imposes a 30% tax on crypto profits with no deductions other than acquisition costs, and a 1% tax deducted at source (TDS) on transactions.

India’s regulatory strides are mirrored by its crackdown on non-compliance, such as the $2.25 million fine imposed on Binance for anti-money laundering violations.

2025 and Beyond: A Vision for the Future

Binance envisions a decentralized and inclusive digital ecosystem, with India playing a key role in leading regulatory innovation. As crypto adoption accelerates globally, India’s approach could set the standard for fostering innovation while ensuring stability and security in the crypto space.