SEC Considers Regulatory Exemptions For DeFi Platforms: A Bold Leap Forward Or A Risky Gamble?

SEC Considers Regulatory Exemptions For DeFi Platforms: A Bold Leap Forward Or A Risky Gamble?

Decentralized Finance, or DeFi, has stormed onto the financial stage like a disruptive underdog, promising to upend the traditional banking system with its blockchain-based, intermediary-free approach to money management. By enabling peer-to-peer transactions through smart contracts on public decentralized networks, DeFi offers a tantalizing vision of financial empowerment—higher returns, lower fees, and access for all.

Now, the U.S. Securities and Exchange Commission (SEC), under Chairman Paul Atkins, is contemplating a seismic shift: regulatory exemptions for these platforms. Announced at a recent cryptocurrency roundtable titled “DeFi and the American Spirit,” Atkins revealed plans to develop an “innovation exemption” policy, directing staff to explore rule changes that would allow DeFi entities to launch on-chain products with less oversight. This move has sparked a firestorm of debate, with advocates cheering it as a victory for innovation and critics warning of a Pandora’s box of risks—from security breaches to money laundering. I see this as an extreme change, one that could redefine the future of finance or leave us scrambling to clean up the mess when problems inevitably arise.

The idea of regulatory exemptions for DeFi feels both exhilarating and unnerving. On one hand, it’s a chance to unshackle a technology brimming with potential, aligning with the current administration’s ambition to make the U.S. the “crypto capital of the planet.” On the other, it’s a step into uncharted territory, where the absence of guardrails could expose investors to unprecedented dangers. Hester Peirce, head of the SEC’s crypto task force, has argued that code publishers shouldn’t bear responsibility for how others use their work, but she’s quick to caution that centralized players can’t dodge scrutiny by slapping a “decentralized” label on their operations. With the SEC’s Republican commissioners holding a 3:1 majority and pushing crypto-friendly policies, the momentum is clear—but so are the stakes. In this opinion piece, I’ll dive deep into the pros and cons of this proposal, weaving in data and research to ground my perspective, and offer my take on what might happen when the cracks start to show.

The Case for Exemptions: Unleashing Innovation and Inclusion

Let’s start with the upside, because there’s plenty to get excited about. DeFi’s core promise is to democratize finance, and regulatory exemptions could turbocharge that mission. By stripping away the red tape that traditional financial institutions face, DeFi platforms can experiment freely, creating new products that are faster, cheaper, and more user-friendly. Take transaction costs, for example: traditional banks often charge hefty fees for everything from wire transfers to loan origination, while DeFi platforms, powered by smart contracts, can slash those costs dramatically. On average, I believe DeFi lending protocols offered interest rates on savings up to 10 or 100+ times higher than those of traditional banks. For consumers tired of being nickel-and-dimed, this is a game-changer.

Then there’s financial inclusion, a cause close to my heart as someone who’s reported on global economic disparities. Over 1.4 billion people worldwide remain unbanked, according to the World Bank’s 2021 Global Findex report, often because they lack access to physical banks or the documentation required to open accounts. DeFi sidesteps those barriers. All you need is a smartphone and an internet connection—tools that are increasingly ubiquitous, even in developing nations. By December 2021, the total value locked (TVL) in DeFi platforms had soared from $17 billion to over $163 billion, per DefiLIama. That was the peak, currently the TVL is around $116 billion, a figure will probably climb higher in later part of 2025. This explosive growth isn’t just a speculative bubble; it’s a sign that people—especially those underserved by traditional finance—are hungry for alternatives.

Exemptions could also keep the U.S. competitive in the global blockchain race. Countries like Switzerland and Singapore have already carved out crypto-friendly niches with clear, innovation-supportive regulations. Meanwhile, the U.S. has been stuck in a regulatory quagmire, often driving startups overseas. Chairman Atkins has criticized the previous administration’s “heavy-handed” approach under Gary Gensler, which leaned on court battles rather than collaboration. His push for exemptions, paired with support for self-custody as a “foundational American value,” signals a desire to flip that script. If the U.S. can create a welcoming environment for DeFi, it might attract top talent and investment, fueling economic growth. Imagine the Silicon Valley of blockchain emerging stateside—that’s the kind of upside we’re talking about.

The Downside: Security, Accountability, and AML Nightmares

But here’s where my enthusiasm starts to waver. For all its promise, DeFi is a minefield of risks, and regulatory exemptions could amplify them. Security is the first red flag. These platforms, built on relatively new technology, are magnets for hackers. In 2024, DeFi platforms lost approximately $474 million, according to Hacken’s Web3 Security Report, reflecting a 40% decrease from the previous year due to enhanced security measures. As of April 2025, DeFi platforms have lost at least $155 million, based on monthly reports from Immunefi and PeckShield, though this is an estimate as full-year data is not yet available. Even as security has improved, the threat looms large—especially when you consider that a single smart contract bug can drain millions in seconds. I’ve covered enough cybercrime stories to know that bad actors don’t need an invitation; exemptions might as well roll out the red carpet.

Then there’s the issue of consumer protection, or the lack thereof. Traditional finance has its flaws, but it offers a safety net—think FDIC insurance or SEC enforcement actions. DeFi? Not so much. If a platform gets hacked or a scam artist disappears with your funds, you’re often out of luck. The decentralized ethos means there’s no central authority to call for help, and the complexity of these systems can leave even savvy users vulnerable. I’ve spoken to retail investors who’ve lost life savings to crypto scams; the thought of that happening on a larger scale in an unregulated DeFi landscape keeps me up at night.

The Anti-Money Laundering (AML) piece is where things get really dicey. DeFi’s pseudonymity—where users transact without revealing their identities—is a double-edged sword. It’s great for privacy, but it’s a gift to criminals. DeFi accounted for a huge percentage of all cryptocurrency crime. It’s not hard to see why: anonymous transactions make it tough for authorities to trace illicit funds. I’ve spoken to law enforcement officials who’ve struggled to crack cases involving crypto laundering; loosening oversight could turn DeFi into a playground for money launderers and terrorists. The SEC might argue that blockchain’s transparency helps track these activities, but without robust AML frameworks, that’s a shaky defense.

When Problems Arise: A Regulatory Wild West?

This brings me to the question that nags at me most: what happens when things go wrong? In traditional finance, there’s a playbook—regulators step in, investigations launch, and (sometimes) justice is served. DeFi, especially under exemptions, lacks that structure. If a major platform collapses or a fraud scheme unravels, who’s accountable? The code writers, who Peirce says shouldn’t be liable? The users, who might not even understand what they’ve signed up for? The absence of clear rules could leave chaos in its wake, eroding trust in DeFi just as it’s gaining traction.

The 2008 financial crisis looms large in my mind here. Back then, lax oversight of complex instruments like mortgage-backed securities fueled a meltdown that cost millions their homes and jobs. DeFi’s parallels—high-risk products, rapid growth, limited regulation—feel eerily familiar.

The Federal Reserve has expressed concerns about decentralized finance (DeFi) and its potential to create systemic risks, especially through its interconnectedness with traditional financial systems. It was also highlighted that DeFi’s reliance on stablecoins could amplify risks if a major player fails, potentially triggering a domino effect. This is because stablecoins are vulnerable to runs, which could disrupt short-term funding markets and spill over to traditional finance. It also notes that exemptions from regulation might speed up innovation, offering benefits like efficiency and financial inclusion. However, this could set the stage for a crisis, as DeFi lacks the oversight traditional finance has, making it harder to handle systemic risks. Exemptions might accelerate innovation, but they could also set the stage for a crisis we’re ill-equipped to handle.

Investor confidence is another casualty I worry about. Crypto diehards might cheer deregulation, but the average person—say, a retiree dipping into DeFi for better returns—wants reassurance. Without SEC oversight, that trust could erode, stunting DeFi’s mainstream adoption. I’ve seen how volatility and scandals in crypto spook newcomers; exemptions could make that worse, not better.

My Take: A High-Stakes Balancing Act

So where do I land? I’m torn, honestly. I’m thrilled by DeFi’s potential to shake up a stodgy financial system. The data backs up its momentum. Exemptions could supercharge that, positioning the U.S. as a blockchain beacon and delivering real benefits to everyday people. I can’t help but root for a future where a farmer in rural Africa or a gig worker in Detroit can access loans without a bank’s blessing.

But as a practitioner who’s seen deregulation’s dark side, I’m skeptical of going all-in. The amount loss to DeFi hacks—give me pause. The AML risks feel even more urgent; we can’t ignore that there is a spike in crypto-related crime, much of it tied to DeFi. And when problems hit, the lack of a safety net could turn a breakthrough into a breakdown. I keep circling back to Peirce’s point about centralized pretenders—exemptions might let wolves in sheep’s clothing slip through, undermining the whole experiment.

I think the SEC should tread carefully, not blindly. A full-on exemption feels too extreme; instead, I’d advocate for a “regulatory sandbox” approach. Used in places like the Singapore, India, U.K., this lets platforms operate under light oversight while regulators study the risks and refine rules. It’s a compromise that fuels innovation without throwing caution to the wind. Pair that with tiered regulations—tougher for big players, lenient for startups—and you’ve got a framework that adapts to DeFi’s scale.

The Road Ahead: Opportunity Meets Responsibility

The SEC’s move is a crossroads moment. Done right, exemptions could usher in a financial revolution, cutting costs, boosting inclusion, and cementing U.S. leadership. Done wrong, they could unleash a torrent of fraud, instability, and lost faith. The numbers tell a story of both promise and peril. My gut says we need both—boldness to seize the future and vigilance to protect it.

As Atkins and his team shape this policy, they’re not just regulating code—they’re deciding who wins and loses in tomorrow’s economy. I’ll be watching, notepad in hand, hoping they strike a balance that proves DeFi can thrive without toppling over. Because when the dust settles, it’s not just about crypto—it’s about whether we can build a system that’s as fair as it is forward-thinking. That’s the American spirit I’d bet on.

 

Source: https://www.benzinga.com/markets/cryptocurrency/25/06/45863828/sec-considers-regulatory-exemptions-for-defi-platforms-a-bold-leap-forward-or-a-risky-gamb

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Looking at the global market dynamics: Cryptocurrencies, regulatory challenges, and the potential for market abuse

Looking at the global market dynamics: Cryptocurrencies, regulatory challenges, and the potential for market abuse

The intertwining of technology with traditional markets has brought both innovation and complexity. As we witnessed in recent market activities, the holiday lull in the US did not stop the wheels of commerce from turning elsewhere.

Futures markets traded in the green, with the Dow, S&P, and Nasdaq futures showing marginal gains, signalling perhaps a cautious optimism or at least a stable pause in a year filled with volatility. However, beneath this surface calm, significant shifts are occurring in regulatory practices and market behaviours, particularly in the realm of cryptocurrencies.

The US financial scene was somewhat muted due to the holiday, but Federal Reserve Governor Michelle Bowman’s comments provided insight into the central bank’s ongoing thought processes. She highlighted a nuanced view of the US economy, acknowledging that while inflation might decline, the risks of an uptick remain, and she needs more assurance before advocating for rate cuts.

This perspective is crucial as it affects not just domestic markets but global ones, with the US dollar index showing a slight decline and gold prices rising, possibly reflecting bets on inflation or a softening dollar.

However, the real intrigue lies in the developments in Asia and Latin America, where the integration of cryptocurrencies into mainstream finance is taking bold steps forward but also encountering significant hurdles.

Thailand’s leap into tokenised securities

Thailand’s Securities and Exchange Commission (SEC) has announced its embrace of crypto, setting the stage for trading in tokenised securities. This move is a testament to the country’s forward-thinking approach to finance, aiming to leverage blockchain technology’s security and transparency to modernise its market infrastructure.

Tokenisation, the process of representing physical or traditional securities in digital form on a blockchain, promises to enhance market liquidity, reduce costs, and increase accessibility. However, this step also comes with its challenges, including ensuring investor protection, navigating regulatory compliance, and managing the inherent volatility of crypto-assets.

The Thai SEC’s initiative could set a precedent for other nations contemplating similar moves, providing a model for how regulatory bodies can balance innovation with oversight.

South Korea’s Upbit in the regulatory crosshairs

In contrast, South Korea’s largest cryptocurrency exchange, Upbit, finds itself under scrutiny. The Financial Services Commission has uncovered over 700,000 violations concerning customer verification, a cornerstone of anti-money laundering efforts. This revelation not only questions Upbit’s operational integrity but also highlights the broader issue of regulatory compliance within the crypto industry.

The swift response from Kim Byoung-hwan, promising a quick conclusion to the case, underscores the urgency with which regulators worldwide are tackling these issues. The outcome of this case could influence how other countries approach similar regulatory challenges, potentially setting stricter standards or leading to more robust compliance frameworks across the industry.

The Argentine scandal: A cautionary tale

The situation in Argentina involving President Javier Milei adds another layer to this narrative. Milei’s promotion of the cryptocurrency $LIBRA on social media, followed by its rapid collapse, underscores the risks of high-profile endorsements in the crypto world. Here, we see not just a market fluctuation but potential market abuse where regulatory oversight might be lacking.

The allegations of fraud filed against Milei highlight the precarious balance between advocating for innovation and ensuring market integrity. The $LIBRA incident, where investors lost millions following the president’s post and subsequent retraction, serves as a stark reminder of the volatility and potential for manipulation in cryptocurrency markets.

This case brings to light several critical points.

Firstly, the power of social media in influencing market behaviour cannot be underestimated. When leaders with significant followings endorse financial products, especially those as volatile as cryptocurrencies, they wield immense influence over market dynamics.

Secondly, it calls for a reevaluation of how public figures interact with financial markets. Should there be clearer guidelines or outright bans on such endorsements to prevent similar occurrences?

Lastly, it emphasises the need for robust regulatory mechanisms that can adapt to the speed and anonymity that blockchains offer, ensuring that the enthusiasm for crypto does not lead to platforms for fraud.

Looking forward

As we stand at this juncture, the crypto landscape is clearly at a crossroads. On one hand, there’s a push towards integration into traditional finance systems with initiatives like tokenised securities in Thailand. On the other, there’s the cautionary tale of regulatory lapses and potential malfeasance in South Korea and Argentina.

The path forward involves a delicate balance. Regulators must foster innovation without stifling it, providing clear guidelines that protect investors while allowing the market to explore new financial instruments. The industry needs to mature, adopting best practices in compliance and transparency. Investors, too, must become more discerning, understanding the risks associated with these new asset classes.

In conclusion, while the integration of cryptocurrencies into global financial systems offers unprecedented opportunities for growth and democratisation of finance, it also presents significant risks. The cases of Thailand, South Korea, and Argentina illuminate the spectrum of possibilities and pitfalls.

As we navigate this new financial frontier, the lessons learned from these scenarios will be invaluable. They remind us that with great innovation comes the responsibility of great oversight, ensuring that the future of finance is not just innovative but also secure and equitable for all participants.

 

Source: https://e27.co/looking-at-the-global-market-dynamics-cryptocurrencies-regulatory-challenges-and-the-potential-for-market-abuse-20250218/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j

Crypto in India: Balancing Adoption and Regulatory Challenges

Crypto in India: Balancing Adoption and Regulatory Challenges
Imagine a country caught between the excitement of new digital money and the worry of keeping its financial system safe. That’s India right now, grappling with the world of cryptocurrency. It’s like walking a tightrope – lean too far one way, and you might miss out on a financial revolution; lean too far the other, and you risk financial chaos.

This balancing act has led to a series of back-and-forth decisions, leaving both crypto enthusiasts and government officials scratching their heads. India isn’t saying a flat-out “yes” or “no” to crypto. Instead, it’s trying to find a sweet spot where it can enjoy the benefits of this new technology without putting its economy at risk. But with the government sending mixed signals and a much-anticipated Crypto Bill still in the works, everyone’s left wondering: what’s next for crypto in India?

The Crypto Bill: A Work in Progress

The Crypto Bill has become somewhat of a legend in Indian crypto circles. Initially seen as a potential game-changer, it was expected to pave the way for a digital currency issued by the Reserve Bank of India (RBI), hinting at a progressive stance that could put India at the forefront of the CBDC revolution.

The reality has been more complicated. The bill, years in the making, has faced numerous revisions and delays. Its contents remain unclear, with conflicting reports about its stance on private cryptocurrencies. This lack of clarity has left the Indian crypto community uncertain about the future of their investments and businesses. The bill’s journey mirrors the global struggle to effectively regulate digital assets. While governments see the potential of blockchain and digital currencies, concerns about financial stability, investor protection, and illicit activities remain significant.

Mixed Messages from the Ministry of Finance

Adding to the complexity, India’s Ministry of Finance recently stated there are no proposals for legislation governing digital asset trading. This announcement surprised many, given the ongoing discussions about the Crypto Bill. This apparent contradiction reveals differing viewpoints within the Indian government regarding cryptocurrency regulation. It also highlights the challenge policymakers face in keeping up with the rapidly evolving crypto landscape.

The Ministry’s statement is open to interpretation. It could suggest a hands-off approach, allowing organic market evolution. It might indicate that the government is still formulating its position, preferring to observe global regulatory trends before committing to a specific course of action.

The Adoption Paradox: India and China

One intriguing aspect of India’s crypto story is the disconnect between regulatory caution and widespread adoption. Despite the government’s cautious stance and occasional anti-crypto rhetoric, India has seen a surge in crypto adoption. This phenomenon isn’t unique to India. China, despite taking a stricter approach with outright bans on cryptocurrency trading and mining, also continues to see strong crypto adoption among its citizens.

A Chainalysis report revealed that India ranked second largest crypto market in the world in terms of raw transaction volume, beating UK, Turkey and Russia. This high adoption rate, despite regulatory uncertainty, speaks volumes about the perceived value and potential of cryptocurrencies among the Indian population. The situations in India and China offer valuable insights for policymakers worldwide. They suggest that heavy-handed attempts to discourage crypto adoption may be ineffective and potentially counterproductive. Instead, a more nuanced and adaptive approach to crypto regulation may be necessary.

Self-Regulation: A Potential Bridge

Given the challenges of top-down regulation, there’s growing support for self-regulation within India’s crypto sector. This approach could offer a middle ground between unfettered market freedom and stringent government control.

Self-regulation in the crypto space could involve industry-led initiatives to establish best practices, implement robust KYC and AML procedures, and create consumer protection mechanisms. By proactively addressing regulatory concerns, the crypto industry could demonstrate its commitment to responsible growth and potentially ease some of the government’s apprehensions. Some Indian crypto exchanges have already taken steps in this direction. WazirX, a major Indian crypto exchange, has implemented stringent KYC procedures and collaborates with law enforcement agencies to prevent illicit activities.

Nevertheless, self-regulation has its limitations. I would argue that it may not sufficiently address all regulatory concerns and could potentially lead to conflicts of interest. Despite these challenges, self-regulation could play a crucial role in the short to medium term, especially given the current regulatory uncertainty.

The Current Landscape: Taxation and AML Measures

While India may lack a comprehensive crypto regulatory framework, it has taken steps to bring the sector under some form of oversight, primarily through taxation and anti-money laundering measures. The 2022 budget introduced a 30% tax on income from cryptocurrencies and other digital assets. Additionally, a 1% Tax Deducted at Source (TDS) was imposed on crypto transactions above a certain threshold. On the AML front, crypto exchanges operating in India must comply with the Prevention of Money Laundering Act (PMLA).

These measures represent a pragmatic approach to crypto regulation. By focusing on taxation and AML compliance, the government has found a way to exercise some control over the crypto sector without explicitly legalizing or banning cryptocurrencies.

Binance’s Regulatory Milestone in India

I believe this is a significant development that could reshape India’s crypto landscape. Global cryptocurrency exchange Binance achieved a major regulatory breakthrough on August 15, 2024. Binance announced its successful registration as a reporting entity with India’s Financial Intelligence Unit (FIU-IND), marking its 19th global regulatory milestone. This registration underscores a pivotal shift in India’s approach to cryptocurrency regulation and offers a compelling case study of how international players can navigate the country’s evolving regulatory framework.

Binance’s registration demonstrates its commitment to adhering to India’s anti-money laundering (AML) standards, aligning with the government’s focus on preventing illicit activities in the crypto sector. It also allows Binance to fully operate its website and application for Indian users, providing them access to a comprehensive suite of crypto services and tools.

Binance CEO Richard Teng emphasized the significance of this milestone, stating, “Recognizing the vitality and potential of the Indian VDA market, this alignment with Indian regulations allows us to tailor our services to the needs of Indian users.”

This development is particularly noteworthy given India’s position in the global crypto landscape. India leads the world in grassroots adoption according to Chainalysis’ 2023 Global Crypto Adoption Index, India leads the world in grassroots crypto adoption, ranking in the top five by estimated transaction volume across various crypto platforms and protocols.

Binance’s successful registration and entry into the Indian market could serve as a catalyst for more comprehensive crypto regulations in India. It demonstrates that it’s possible for global crypto players to operate within India’s regulatory framework, potentially encouraging the government to develop more detailed guidelines for the industry.

The Need for Clarity: A Growing Chorus

Despite recent developments, there’s a growing chorus calling for greater regulatory clarity. The crypto industry in India argues that clear regulations are essential for the sector’s growth and for attracting institutional investments. They contend that regulatory uncertainty hampers innovation and puts India at risk of falling behind in the global crypto race.

Moreover, clear regulations could provide better protection for retail investors and help prevent illicit activities. The Supreme Court of India, in its 2020 judgment that lifted the RBI’s banking ban on crypto, emphasized the need for clear regulations, noting that the absence of regulations does not make an activity illegal by default.

Global Lessons: Charting a Path Forward

As India navigates its crypto regulatory journey, it can learn from global experiences. Different countries have adopted varying approaches to crypto regulation, ranging from outright bans to embracing cryptocurrencies as legal tender.

The United States has taken a largely fragmented approach, with different agencies exercising oversight based on their jurisdictions. In contrast, countries like Switzerland and Singapore have developed more comprehensive crypto-friendly regulations. El Salvador’s bold move to adopt Bitcoin as legal tender offers another interesting case study, albeit one that comes with significant risks and challenges. India could potentially carve out a middle path, drawing on these global experiences while tailoring its approach to its unique economic and social context.

Finding the Balance: Embracing the Inevitable

Looking ahead, it’s clear that India needs a balanced and nuanced approach to crypto regulation. The country’s large and tech-savvy population, coupled with its growing digital economy, presents immense opportunities in the crypto space. These opportunities however must be balanced against legitimate concerns about financial stability, consumer protection, and illicit activities.

A potential roadmap for India could involve developing clear legal definitions for cryptocurrencies, creating a regulatory framework that distinguishes between different crypto activities, establishing a licensing regime for crypto businesses, encouraging innovation through regulatory sandboxes, investing in public education about cryptocurrencies, and collaborating with international bodies to develop global standards for crypto regulation.

In conclusion, India’s journey with cryptocurrency regulation reflects the global struggle to come to terms with this disruptive technology. The high adoption rates despite regulatory uncertainty demonstrate that cryptocurrencies are not a passing fad, but a financial innovation that’s here to stay. By embracing the inevitability of crypto adoption and working towards clear, balanced regulations, India has the opportunity to position itself as a leader in the global crypto economy. This approach could unlock significant economic benefits while addressing legitimate regulatory concerns.

As India stands at this crucial juncture, the decisions it makes regarding crypto regulation will have far-reaching implications, not just for its own economy, but for the global financial landscape. The world watches with keen interest as this crypto conundrum unfolds in one of the world’s largest and most dynamic economies.

 

Source: https://www.securities.io/crypto-in-india-balancing-adoption-and-regulatory-challenges/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

j j j