U.S. crypto laws advance, Tornado Cash trial sparks debate over DeFi development liability.

India’s Crypto Policy in Flux: RBI Eyes Paper While Exchanges Defend Funds
India’s crypto landscape remains filled with uncertainty as regulators and industry players navigate shifting policies. The Reserve Bank of India (RBI) is preparing a comprehensive white paper to outline potential crypto regulations, aiming to balance innovation with economic stability. The government is expected to release this consultation paper between June and July 2025.

Meanwhile, the country’s major exchanges face scrutiny over fund management practices. CoinDCX’s leadership has denied allegations suggesting user funds were transferred offshore, asserting that customer assets remain secured and compliant with Indian regulations. These claims surfaced following controversies surrounding WazirX and its recent security challenges.

The Indian crypto sector awaits clearer rules, as businesses and investors continue to operate under a framework that imposes a 30% tax on gains and a 1% tax deducted at source (TDS) on transactions.

Industry Implications: A well-defined policy could bring much-needed clarity, protect investors, and attract further growth. Crypto players must remain transparent and compliant to navigate regulatory headwinds.