Key Highlights
- GNLU holds Advisory Board and Regional Stakeholder consultations to study crypto regulation in India.
- Experts emphasize clear definitions, better regulator coordination, simplified taxes, and stronger consumer protection.
- Industry insights from Bengaluru complement policy discussions to create a secure, practical crypto framework.
The Gujarat National Law University (GNLU) has launched a major initiative to influence India’s regulatory approach to cryptocurrencies. The university recently held its first Advisory Board Consultation alongside a Regional Stakeholder Consultation, as part of its national research project titled “Assessing the Case for Regulation of Crypto Assets in India.”
Led by S. Shanthakumar, Director of GNLU, the research team brings together expertise in law, commerce, and technology. The project examines the effectiveness of India’s existing legal frameworks governing virtual digital assets (VDAs) and aims to propose an evidence-based model for future regulations.
“The study aims to assist India in building a future-ready framework that balances technological innovation with adequate safeguards,” said Shanthakumar.
Advisory board consultation: Experts weigh in
The Advisory Board consultation in Gandhinagar featured a distinguished panel of experts, including former Supreme Court Judge Justice M. R. Shah, former Gujarat High Court Judge Justice Ravi Tripathi, former Gujarat Chief Secretary Rajkumar, former Additional Chief Secretary J.P. Gupta, and Keshav Kumar, former Director General of Police and Director of the Anti-Corruption Bureau.
During the advisory discussions, experts from cybersecurity, academia, tech startups, and cyber law came together to look at gaps in India’s crypto rules. The experts said crypto assets need to be defined clearly so that everyone knows what the rules actually cover.
They also said regulators should work together more, taxes should be simpler, consumers need better protection, and there should be proper ways to sort out disputes and handle issues that involve other countries.
Regional stakeholder consultation in Bengaluru
GNLU also held a consultation in Bengaluru, which has grown into one of the main centers for crypto and blockchain businesses in India. People from exchanges, tech companies, service providers, and other industry participants spoke about what it’s really like on the ground, sharing their day-to-day challenges and experiences.
They talked about the challenges they face day to day and how regulations could be improved to help the industry grow without creating unnecessary hurdles. Their input gave a practical perspective to go along with the policy discussions from Gandhinagar.
Toward a structured crypto framework in India
Crypto use is growing fast in India, and it’s clear that the country needs rules that keep investors safe without stopping innovation. The findings from these consultations are expected to guide the final recommendations.
By combining advice from lawyers and policymakers with the real experiences of people working in the industry, GNLU is trying to create a framework that is clear, secure, and practical. The goal is to build rules that help the crypto market grow while keeping it safe and transparent.
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