BJP Leader Urges Immediate Action: India Can’t Afford to Lag on Stablecoin Regulation

India's crypto crossroads: A senior BJP politician is ringing alarm bells over the country's sluggish approach to stablecoin oversight.

Why it matters: While regulators drag their feet, billions in dollar-pegged digital assets flow through India's informal economy—untaxed, untracked, and increasingly unstoppable.

The regulatory vacuum: Unlike Japan's swift licensing framework or the EU's MiCA rules, India's "wait-and-see" stance creates a Wild West for crypto-fiat gateways. Perfect for arbitrageurs, terrible for treasury officials.

Market reality check: Tether's 24-hour trading volume in India surpassed $2B last quarter—enough to make any finance minister reach for antacids.

The cynical take: When politicians finally act, expect heavy-handed rules that protect banks first, innovation last. The RBI's CBDC team is already taking notes.