India revisits Crypto stance as nations ease regulations
2025-02-03
Category: None

India, the nation with the highest crypto adoption worldwide is once again reviewing its old skool takes over digital, as reported by Reuters citing a senior official the nation is re-examining its stance over cryptocurrencies with the changing mindset of other nations over the same. 
The economic affairs secretary of India, Ajay Seth notes while talking to Reuters “ More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of the usage, their acceptance, where do they see the importance of crypto assets. In that stride, we are looking at the discussion paper again.” 
As per experts, the move to reconsider cryptocurrencies came following the pro attitude of Donald Trump toward cryptocurrencies, which could further influence the decision of nations that already have harsh outlooks for digital assets.
Yet, despite the official statement, there are speculations that India might stay with its initial decision not to legalize crypto or the so-called ‘Digital Money.’
A most recent order of Trump’s presidency instructs the regulators and other agencies of the United States to keenly observe the existing set of rules and regulations affecting the growth and expansion of the digital asset sector.Corporate entry backing review over crypto in India 
In the past few months a major shift of institutional investors has been seen toward the digital asset sectors, one of the most dominant players in the telecommunication market, JIO has announced its official partnership with Polygon Network.
With the alliance, JIO aims to enhance the services for its 300 million users and several datasets are stating that the native token of JIO will soon be seen in the market. However, there is no official statement from the company yet. 
Earlier in January 2025, Todayq reported that Birla Institute has launched their in-house blockchain-based currency as campus currency. The launch aims to make a decentralized and secure ecosystem within the campus.
Experts argue that these developments in India will further shape the future of crypto in India as well as in Asia. The nation has the highest adoption in the world, but it faces a lower retention rate due to harsh taxes and regulations for blockchain-based applications. Crypto market price updates 
Until publishing the cryptocurrency market capitalization was $3.07 trillion with a decline of 9.63%, and the trading volume was $303.01 billion with a massive growth of 177.91%.
Market experts argue that the side pump in the volume reflects a shift in the sentiments from traders and whale wallets resulting in massive selling with a strong dominance of bears over bulls.
Bitcoin has lost its momentum and is now trading at $94,293 with an intraday decline of 5. 84 percent, and a loss of 4.90 percent in a week, Ethereum lost 18% of its price now trading at $2,553. 
It is worth noting that in the past 24 hours, crypto tokens such as Dogwifhat, Floki, Filecoin, Bonk, Pepe, Jasmy Coin, Toncoin, XRP, Uniswap, Dogecoin and Maker lost huge amounts of their trading prices.