India Crypto Regulations: A Landmark Proposal for Digital Asset Freedom

Key Points

1. The COINS Act (Crypto-Asset, Innovation, and National Security Act) is a non-binding proposal by Hashed Emergent and Black Dot to establish clear India crypto regulations.

2. Current regulatory environment in India is fragmented and reactive, leading to confusion and hindering growth in the Web3 ecosystem.

3. The COINS Act proposes a dedicated crypto regulator, addresses high taxation (e.g., 30% tax on gains, 1% TDS), and emphasizes user rights like self-custody and financial privacy.

4. The Act aims to reduce uncertainty, prevent talent drain, and provide a mechanism for managing seized crypto assets.

5. If adopted, the COINS Act could position India as a leader in the global crypto space by creating a more innovation-friendly regulatory environment.