Overview

• The government is finalising a discussion paper scheduled for June that will be opened to public comments
• It will outline policy options and draw on global best practices, including a synthesis by the International Monetary Fund and Financial Stability Board
• Officials say the framework will reflect India’s national interests and avoid any knee-jerk decisions
• Current rules impose a 30 percent tax on crypto gains, a 1 percent TDS on transactions and require exchanges to register with the Financial Intelligence Unit
• The Reserve Bank of India is advancing its own central bank digital currency as an alternative while US policy shifts under President Trump inform the review