David Edwards
India is becoming a major force in the global cryptocurrency regulatory scene, and Binance is hopeful that the nation will take the lead by 2025. In order to promote confidence and innovation in the industry, Vishal Sacheendran, Head of Regional Markets at Binance, underlined the vital necessity of clear and forward-thinking legislation.
“We hope that India will lead the way in creating comprehensive and forward-thinking crypto regulations in 2025,” he said.
Sacheendran’s remarks coincide with increased demand for regulatory certainty around the world, particularly in the wake of major milestones in 2024. An important turning point that indicated growing institutional confidence in digital assets was the U.S. government’s approval of spot Bitcoin and Ether exchange-traded funds (ETFs). Sacheendran claims that this evolution and the growing popularity of altcoins highlight the necessity of frameworks that strike a balance between stability and innovation.
Binance has made proactive steps to conform to the changing regulatory landscape in India. In an effort to demonstrate its dedication to compliance and safe cryptocurrency services in the nation, the company has registered with the Financial Intelligence Unit – India (FIU-IND).
“Recognizing the importance of India in the crypto space, we registered with the Financial Intelligence Unit – India. This step reflects our response to regulatory shifts and our renewed commitment to providing secure and compliant crypto services,” he said.
By 2025, Binance hopes to build cooperation with regulators and increase awareness and trust in the cryptocurrency community.
“The future of cryptocurrency is about more than just trading; it’s about building a decentralized, inclusive, and innovative digital ecosystem,” Sacheendran underlined the overarching goal.
A draft bill that called for a ban on cryptocurrencies launched India’s regulatory journey in 2019. Over time, the country’s stance changed in response to both internal and international events. During its G20 presidency in 2023, India promoted international collaboration on cryptocurrency legislation, supporting organizations such as the Financial Action Task Force (FATF). The Reserve Bank of India’s previous restrictive approach to regulating cryptocurrency assets was significantly altered in 2024 when the Securities and Exchange Board of India (SEBI) adopted a multi-regulator model.
Despite advancements, difficulties still exist. India’s strict tax laws include a 1% tax deducted at source (TDS) on transactions and a 30% tax on cryptocurrency income without deductions (apart from acquisition costs). Because of the increased scrutiny in the Indian market, Binance was fined $2.25 million in 2024 for noncompliance.
India is positioned as a possible leader in determining the direction of future international crypto legislation thanks to its changing strategy and Binance’s calculated investments. 2025 may be a turning point for India and the cryptocurrency industry as a whole, with an ecosystem ready for creativity and cooperation.
