Financial Landscape Of Cryptocurrency In India
- IJLLR Journal
- Sep 26, 2025
- 2 min read
Ms. Razual Singh Purewal, Assistant Professor, Chandigarh Group of Colleges, Department of Law, Jhanjeri
ABSTRACT
For a young economy like India, the revelation that alleges the cryptocurrency is nothing more than sophisticated and convoluted pyramid schemes that would eventually lead to economic pain is not merely a revelation but a bitter pill of truth for cryptocurrency enthusiasts, bound by permissions of government and central banks. This has led to change in the stance of various countries on the subject of cryptocurrency as it often curtails the pressures and heavy consideration that it places on its consumers behind the fancy idea of earning financial profits. At this juncture looking at the current state of fluctuations concerning colloquial crypto , leading to a fiscal impermanence of the crypto individuals or entities there-by having an adverse consequences that may be prevalent for investors especially in an economy that takes pride in its novelty.
The Indian economy that initially started-off as a socialist economy has been transpiring the spirit of capitalism trying to adapt to the western financial norms since the 1992 LPG Policy. The changing economy has resulted in a more capitalist approach creating large multinational corporations and an oligarchy market. However, with the growing differentiation in the diaspora of income gap between the rich and the poor at this juncture it can be said that, ‘Nothing in this economy shall be denied to the oligarchs and their little princes and princess’.
Cashless transactions in India have been promoted at a rapid pace especially after a large growth of foreign direct investment in the country through the medium of Cards and U.P.I transactions with the initiative of the government of India after demonetisation of the rupee took place in the Indian Subcontinent. Cryptocurrency having escalated popularity in the year 2009 by pseudonymous developer Satoshi Nakamoto, right after he published a white-paper and made a wave in India too, which was soon banned due to R.B.I’s hiccup to not regulate the cryptocurrency.
The bill pertaining to cryptocurrency not having passed in the Indian parliament has led to a backlash from the community of industry body of companies that are readily depicting the wants industries involved in the online and digital service industries. The objective pertaining to the present chapter in this book is to understand the existence and forward path-way of the future of cryptocurrency in India keeping-in view the financial landscape of Indian Economy since its inception since 1947.
Keywords: Indian Economy, Socialism, Capitalism, Cashless transactions, Multi- national companies, Demonetisation, Financial Landscape, Income- Gap, Financial Irregularity, Cryptocurrency, Bitcoin and LPG Policy.
