On June 27, 2025, Pradip Bhandari, a representative of the ruling Bharatiya Janata Party (BJP), urged the Indian government to consider creating a strategic reserve in bitcoins to enhance the country's economic resilience. Bhandari refers to the experience of the USA, where individual states have already legalized $BTC as a reserve asset, and the Kingdom of Bhutan, which is actively engaged in cryptocurrency mining. He emphasized that clear regulation of cryptocurrencies could ensure transparency and protect investors, fostering innovation.
Currently, cryptocurrencies in India are not regulated but are subject to high taxes: 30% on profits from sales and 1% on transactions over 10,000 rupees ($115). Bhandari believes that a state bitcoin reserve could promote the development of blockchain technologies and attract investments. The proposal has sparked lively discussion in the crypto community, as India actively utilizes digital assets, although regulatory uncertainty hinders progress.
This move could position India as a leader in the cryptocurrency space, especially against the backdrop of global trends. Bhandari also noted India's potential for renewable energy to support mining. Stay tuned for updates on how events will unfold!
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