India’s Finance Minister Nirmala Sitharaman presented the interim budget for the fiscal year 2023 on February 1, but did not mention anything about crypto regulation or taxation. This comes as a surprise, as India is currently the president of the G20, the group of the world’s 20 largest economies, which has been working on a common global framework for crypto regulation.
India’s Ambiguous Stance on Crypto
India has a large and growing crypto market, with over 10 million investors and over $1 billion in assets, according to industry estimates. However, the legal status and regulation of crypto in India has been unclear and uncertain for a long time.
In 2018, the Reserve Bank of India (RBI), the country’s central bank, banned banks and other regulated entities from dealing with crypto, effectively cutting off the access and liquidity of the crypto industry. However, in 2020, the Supreme Court of India overturned the RBI’s ban, ruling that it was unconstitutional and disproportionate.
Since then, the crypto industry and investors have been waiting for the government to provide clarity and certainty on the regulation and taxation of crypto. However, the government has been sending mixed signals and delaying the process.
On one hand, the government has been in talks with the crypto industry and has taken some positive steps, such as setting up an inter-ministerial committee to study the issue, and forming a panel of experts to advise the RBI on digital currency. On the other hand, the government has also been proposing and drafting bills that could ban or restrict crypto, and imposing heavy taxes on crypto gains.
India’s Role in the G20’s Crypto Framework
India assumed the presidency of the G20 on December 1, 2023, giving it the responsibility and opportunity to shape the group’s agenda and priorities. One of the key issues that the G20 has been working on is the regulation of crypto, which has been growing in popularity and impact across the world.
The G20 has recognized that crypto poses various challenges and risks, such as money laundering, terrorism financing, tax evasion, consumer protection, and financial stability. However, the G20 has also acknowledged that crypto offers various benefits and opportunities, such as innovation, inclusion, efficiency, and resilience.
Therefore, the G20 has been striving to develop a common global framework for crypto regulation, based on the principles of cooperation, coordination, and consistency. The G20 has been working with various international organizations and bodies, such as the Financial Action Task Force (FATF), the International Monetary Fund (IMF), and the Financial Stability Board (FSB), to set the standards and guidelines for crypto regulation.
India, as the G20 president, has been playing an active and influential role in the G20’s crypto framework, by hosting and participating in various meetings, seminars, and consultations. India has also been aligning its views and interests with the G20’s vision and objectives, by emphasizing the need for a balanced and harmonized approach to crypto regulation.
India’s Future Prospects on Crypto
India’s budget for 2023 has skipped any update on crypto regulation or taxation, despite the expectations and demands of the crypto industry and investors. This has raised questions and concerns about India’s commitment and direction on crypto, and its compatibility and compliance with the G20’s crypto framework.
However, India’s Finance Minister Nirmala Sitharaman has assured that India is not ignoring or avoiding crypto, and that it is still working on its own position and policy on crypto, after considering the global developments and perspectives. She has also stated that India is looking for a global standard operating procedure (SOP) for regulating crypto, which will be discussed and agreed upon in the upcoming G20 meeting of finance ministers and central bank governors later this month.
Therefore, India’s future prospects on crypto depend on how it balances and reconciles its domestic and international interests and obligations, and how it engages and collaborates with the G20 and other stakeholders, to create a conducive and consistent environment for crypto regulation and innovation.
![gain Rise in Gold Rate in India After Falling Rs 21,200/24K; Will Gold Price Today Jump or Drop on 28 March? By Harshika Yadav Published: Saturday, March 28, 2026, 6:55 [IST] preference Add as a preferred source on Google Gold rates in India witnessed a modest recovery on March 27, 2026, after a sharp fall in the previous session, indicating a cautious stabilisation in the bullion market. The yellow metal had dropped by Rs 212 per gram (or Rs 21,200 per 100 grams) of 24 Karat (24K) earlier, but managed to regain some ground. Gold Price Updates as US-Iran Tensions Ease; Pakistan, Turkiye & Egypt Step Up Mediation Efforts The rise in yellow metal follows easing geopolitical concerns after US President Donald Trump signalled a delay in potential military action against Iran's energy infrastructure by 10 days, pushing the deadline to April 6. This development, along with ongoing diplomatic efforts, has helped support safe-haven demand. gold Rate Today Further adding to market sentiment, Pakistan's Foreign Minister Ishaq Dar confirmed that Islamabad is acting as an intermediary between the United States and Iran, relaying messages as part of efforts to de-escalate tensions. Countries like Türkiye and Egypt are also reportedly supporting the mediation process, offering some relief to global financial markets. Gold Rate in India: Check Latest 22K, 24K & 18K Gold Prices Per Gram 24 Karat Gold Rate Today in India In the 24 Karat segment, at the time of writing, the rate for 1 gram stood at Rs 14,471, rising by Rs 16 from Rs 14,455. For 8 grams, the price increased to Rs 1,15,768, up by Rs 128. The rate for 10 grams climbed to Rs 1,44,710, reflecting a gain of Rs 160, while 100 grams of 24 Karat gold were priced at Rs 14,47,100, marking an increase of Rs 1,600. 22 Karat Gold Rate Today in India The price of one gram of 22K stood at Rs 13,265, gaining Rs 15 from the previous session. For 8 grams, the rate rose to Rs 1,06,120, registering an increase of Rs 120. The cost of 10 grams advanced to Rs 1,32,650, up by Rs 150, while 100 grams were priced at Rs 13,26,500, reflecting a gain of Rs 1,500. 18 Karat Gold Rate Today in India The rate for one gram of 18K stood at Rs 10,853, up by Rs 12. For 8 grams, the price moved up to Rs 86,824, marking a gain of Rs 96. The rate for 10 grams climbed to Rs 1,08,530, increasing by Rs 120, while 100 grams were valued at Rs 10,85,300, reflecting an uptick of Rs 1,200. Latest MCX Gold Price In the domestic futures market, gold on the Multi Commodity Exchange (MCX) held firm above the Rs 1,44,500 level as per latest trading record, supported largely by the weakness in the Indian rupee, which continues to cushion local prices despite global volatility. Latest Spot Gold Rate The rebound in domestic gold rates comes alongside a recovery in international markets, where gold moved above the $4,400 per ounce mark. What Lies Ahead for Gold Prices? Check Gold Rate Prediction Jateen Trivedi, VP - Research Analyst (Commodity and Currency), LKP Securities, said, "Gold remained slightly positive, trading above $4,425 with highs near $4,475, supported by initial optimism around US-Iran talks. However, the sharp rise in crude continues to signal underlying market stress and inflation risks." From a technical perspective, he explained, "Technically, support is seen near Rs 1,42,000, while resistance is placed around Rs 1,46,500. Overall, gold is expected to remain volatile with limited upside unless clarity emerges on inflation and geopolitics."](https://keralanews247.com/wp-content/uploads/2026/03/rupee-and-dollar-scaled-120x86.png)
