India, Bitcoin, and the Ruling Party: A Change in Tune?

Is India's ruling party warming up to Bitcoin? A key spokesperson is urging a re-evaluation, and the crypto world is watching closely.

India, Bitcoin, and the Ruling Party: A Change in Tune?

India's stance on Bitcoin may be shifting as a ruling party spokesperson calls for a re-evaluation. Could this be the start of India embracing crypto?

A Voice from Within: Rethinking Bitcoin in India

Pradeep Bhandari, a national spokesperson for India's ruling BJP party, is advocating for a bold move: establishing a national Bitcoin reserve. He believes that a smart and active cryptocurrency plan could boost the economy and position India as a leader in the digital world. This call to action comes as countries like the United States and Bhutan are already making strides in the crypto space.

Following the Global Trend: A Strategic Economic Tool

Bhandari points to the United States, which established a Strategic Bitcoin Reserve in January 2025, holding over 200,000 BTC seized from cybercriminals. The U.S. views this reserve as an inflation hedge and plans to expand it. Bhutan's early adoption of Bitcoin mining using hydropower is also highlighted as a success story, suggesting that digital assets can stabilize economies.

India's Hurdles: Taxes and Regulatory Uncertainty

Despite the growing global momentum, India faces significant challenges in adopting Bitcoin. The Reserve Bank of India has been wary of crypto, and high taxes coupled with unclear rules continue to frustrate investors. Cryptocurrency users in India are subject to a flat 30% tax on gains and a 1% Tax Deducted at Source (TDS) on every crypto transaction above a certain threshold.

CoinDCX CEO Applauds the Shift

Sumit Gupta, CEO of CoinDCX, has publicly praised the BJP and Bhandari for their growing interest in cryptocurrencies. He emphasizes that cryptocurrency is not just a financial instrument but also a geopolitical phenomenon, an economic instrument, and a strategic tool. Gupta encourages India's political class to maintain this momentum and seize the opportunity to lead the emerging Web 3.0.

India's Opportunity to Lead

While India contributed to the global crypto dialogue during its G20 presidency in 2023, other nations like the U.S., China, Russia, and Brazil are already taking action. Bhandari believes India must formulate its own Bitcoin strategy, starting with a pilot reserve based on seized properties. If executed well, this could make India a major contender in the future of digital finance.

A Glimmer of Hope?

The growing acceptance of Bitcoin by members of the ruling party is a positive sign for the crypto industry in India. Whether this translates into concrete policy changes remains to be seen, but the conversation is undoubtedly shifting. Perhaps India will finally catch the crypto wave and ride it to new economic heights. After all, who wants to be left behind at the digital party?