India Shakes Up Crypto With Game-Changing COINS Act – Here’s What Changes
India drops the hammer on crypto chaos with its new COINS Act—finally giving digital assets a legal framework instead of regulatory whiplash.
No more guessing games: The legislation lays out clear rules for exchanges, taxation, and investor protections. About time.
But let’s be real—this is India we’re talking about. The same country that flip-flopped from ‘crypto ban’ to ‘crypto embrace’ faster than a meme coin pump-and-dump. At least now institutional money might stop treating the market like a back-alley dice game.
India’S crypto ecosystem just got a major boost. Hashed Emergent and Black Dot Policy Advisors have unveiled the COINS Act, a bold blueprint for crypto regulation in India. This is a first-of-its-kind model law, which focuses on clarity, innovation, and user rights. This is a big step toward establishing a progressive and consistent approach to Web3 policy in the country.
COINS Act Pushes For Crypto Rights
The draft law that puts user rights and innovation first, while giving regulators a clear path to follow. Although it is non-binding, the Act offes a clear framework for digital rights like self-custody, protocol access, and financial privacy. It also addressed key issues like high taxes, unclear regulations, and the need for a crypto regulator.
Here’s what the COINS Act proposes:This new body would focus only on crypto services aimed at Indian users, leaving out traditional regulators like RBI or SEBI. It’s designed to avoid overreach and keep things clear and focused.
Additionally, developers are protected from being held responsible for how end users use their protocols.
Coins Act To Protect Crypto Rights And Simplify Rules
The Act was created to fix the confusion around crypto rules in India. Currently, users face high taxes and unclear KYC/AML rules, but don’t have basic legal rights like self-custody or privacy.
The Act takes a new approach by treating these rights as constitutional protections, and gives users a strong legal foundation. The framework also tailors these rights based on users’ control and custody of assets.
Hashed Emergent shared in its report that the Indian government is set to release a long-awaited discussion paper on crypto regulation, a much-needed MOVE after years of slow progress since the 2020 “ban.” It hopes that when the government’s paper drops, the COINS Act aims to be a pro-innovation blueprint the industry can get behind.
