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Survey: India wants crypto regulation clarity from Parliament

A survey of more than 1,000 digital respondents found 79% of Indians want more clarity on cryptocurrency and non-fungible token (NFT) regulations in the budget session of Parliament starting on Jan. 31, according to new survey findings.  Fast facts The survey, conducted by tax and advisory firm Grant Thornton Bharat, also found that 61% of […]

By Monika Ghosh

From the Forkast crypto archive

A survey of more than 1,000 digital respondents found 79% of Indians want more clarity on cryptocurrency and non-fungible token (NFT) regulations in the budget session of Parliament starting on Jan. 31, according to new survey findings. 

Fast facts

  • The survey, conducted by tax and advisory firm Grant Thornton Bharat, also found that 61% of Indians want a regulatory sandbox approach for decentralized finance (DeFi) innovations. 
  • However, 36% Indians believe the focus should be placed on improving crypto literacy, rather than government initiatives on DeFi.
  • IndiaTech, an industry body representing internet startups, had requested the finance minister earlier this month to provide crypto tax clarity in the upcoming budget. 
  • A crypto bill in India is unlikely to be introduced in the budget session as the government is looking to build consensus with industry stakeholders before proposing legislation.