India unlikely to introduce crypto or Web3-specific legislation until mid-2025, says Indian Parliament Member Jayant Sinha

Indian Parliament Member Jayant Sinha has stated that India is unlikely to introduce a crypto- or Web3-specific legislative bill anytime soon, perhaps only by mid-2025. Sinha believes that more time is needed to identify the most impactful applications for India’s economy and financial system. Instead of legislation, India will rely on a series of narrow policy decisions to act as a de facto regulatory framework, one that aligns with forthcoming G20 recommendations. Sinha emphasized the need for caution when dealing with crypto in India and acknowledged the revolutionary potential of the technologies underlying Web3.