As the United States pushes forward to become the global leader in cryptocurrency, several other countries follow in its footsteps. Driven by new political interest and a global trend, India’s ruling party, the BJP, signals towards forming a Bitcoin Reserve. National spokesperson Pradeep Bhandari argued that India could benefit from adopting a BTC reserve.
Recently, Pradeep Bhandari, the spokesperson of the BJP, urged that India’s financial policies must evolve to adapt more flexible and innovative framework. This method will aim to bring financial growth and prosperity to the country, according to Bhandari. He stated–
“India stands at a pivotal juncture. A measured Bitcoin strategy—perhaps a reserve pilot—could strengthen economic resilience and project modernity. As the US advances and nations like Bhutan adapt, India has a unique opportunity to lead.”
Bhandari points out several significant points that signal the possibility of a future Bitcoin reserve in India.
Renewable Energy Capacity
US Model
Urged India to Step Up
CoinDCX CEO, Sumit Gupta, thanked Bhandari for bringing this proposal of BTC reserve. He stated–
“For years, many of us in the industry have advocated that crypto is more than just a financial instrument; it’s geopolitical, economic, and strategic. Seeing our policymakers engage with this reality is both validating and encouraging!”
While urging the nation to build a BTC reserve, Pradeep Bhandari ensures that this is not a reckless pivot but a calculated step to embrace digital assets. While crypto experts suggest India to test Bitcoin as a sovereign asset, the central question remains unanswered– Will India establish a Bitcoin reserve? After encountering multiple crypto updates, the possibility of a BTC reserve speaks volumes.
India’s stance on crypto is evolving. While owning and trading crypto is legal and there’s a large user base, the government imposes high taxes (30% on gains, 1% TDS) and prohibits crypto as legal tender for payments, creating a “cautious” environment rather than fully friendly.
India imposes a flat 30% tax on crypto gains and a 1% TDS on transfers over ₹10,000, with no loss set-off.
Cryptocurrencies are not legal tender in India but are legal to hold and trade within a regulated tax and compliance framework.
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