India faces challenges in the evolving landscape of cryptocurrency and blockchain technology

Bitcoin's value has surged past $97,000, nearly tripling in a year, as the U.S. government considers a strategic bitcoin reserve under Donald Trump's administration. In contrast, India imposes a 30% tax on crypto profits, limiting investor enthusiasm. While the U.S. and Singapore adopt regulatory frameworks to support cryptocurrencies, India maintains a restrictive stance. This approach has led to exchanges like Coinbase restricting access for Indian users, reflecting the government's discomfort with the crypto market. India is piloting a Central Bank Digital Currency (CBDC) to provide a stable digital payment option. However, the government’s focus on taxation and regulation may hinder the potential benefits of blockchain technology, leaving India at risk of falling behind in the evolving financial landscape.