COINS Act Seen as Blueprint for India’s Web3 Future, Says Polygon Payments Head
The COINS Act, introduced by Web3 venture firm Hashed Emergent and policy group Black Dot, aims to establish clear regulatory frameworks for India's cryptocurrency industry. The legislation focuses on anti-money laundering measures, user asset protection, and privacy safeguards—addressing long-standing ambiguities in the country's digital asset policies.
Polygon Labs' Global Head of Payments Aishwary Gupta endorsed the proposal as a pivotal step toward regulatory clarity. "The tiered approach distinguishing protocol developers, intermediaries, and custodians aligns with global standards," he noted. The Act's provisions for KYC/AML compliance and tax reforms could position India as a leader in Web3 innovation if adopted in forthcoming regulations.
