Public Policy

The spectacular collapse of a large crypto asset exchange in 2022 and the subsequent whirlwind trial and conviction of its founder; the crash of a prominent crypto-friendly bank in the US; and the recent unprecedented multi-billion dollar penalty on the largest crypto asset exchange in the world for criminal compliance violations, hogged global crypto headlines […]

After a successful G20 Summit in New Delhi in September 2023, India will host a G20 Virtual Summit on November 22. This will be the first time that any country will host such a Virtual Summit, following the main Summit. The Virtual Summit will be the last major event under India’s G20 Presidency before Brazil […]

This week marks a significant milestone in India’s strategic growth as it successfully completes the Presidency of the G20—a resounding success for diplomacy and international collaboration. As the baton now passes to the next G20 host country, the progress India has effected at a global scale on the subject of a global regulatory framework for […]

An internationally coordinated regulatory framework for Virtual Digital Assets (VDAs) is a work in progress, with the Union Government in active discussions with various stakeholders in the country and internationally through fora such as the G20, which India is currently heading. The gradual but steady progress on this front is also a reflection of the […]

Web3 refers to the next generation of the internet built on the ethos of decentralization and end-user ownership. Built on public blockchain, Web3 enables new possibilities for digital ownership, secure and verifiable transactions, decentralized governance, and data privacy. This paradigm shift can be of massive economic and technological potential for India and could truly transform […]

Rulemaking is an arduous task. Oftentimes, the words in a gazette take a form of their own in the real world, diverging from the intent. This can be particularly challenging in the case of emerging technologies, where change is rapid and constant. Consider the infamous Red Flag Act the United Kingdom introduced at the advent […]

Regulations are like water. It takes the shape of its surroundings. India’s nascent but promising crypto industry is all too familiar with this. The Union Budget (the Finance Act 2022), for the first time, Virtual Digital Assets (VDA) and the taxes applicable to them. At the outset, clarity on the taxes should have brought greater […]