India’s Strategic Move Towards Bitcoin Reserve and Crypto Regulation
In a forward-thinking approach to digital finance, a prominent voice from India’s ruling party has proposed a groundbreaking initiative. The nation is being urged to consider establishing a Bitcoin (BTC) reserve pilot while simultaneously creating a robust regulatory framework for cryptocurrencies. This move is seen as a strategic effort to position India as a leader in the burgeoning crypto industry and to fortify its economic standing.
Advocating for a Bitcoin Reserve Pilot in India
On a notable Thursday, Pradeep Bhandari, a well-regarded national spokesperson for the Bharatiya Janata Party (BJP), called upon the Indian government to delve into the potential of Bitcoin as a strategic economic asset. Writing for a reputed publication, India Today, Bhandari lauded the United States’ initiatives to build a Strategic Bitcoin Reserve. He pointed out the importance of exploring budget-neutral ways to expand crypto holdings without burdening taxpayers.
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The article highlights how various US states are actively enacting crypto legislation and establishing Bitcoin reserves. For instance, three states have already legalized the creation of a BTC reserve. Texas, in particular, allows the use of public funds for acquiring and maintaining Bitcoin as a reserve asset. Similarly, Arizona has amended its unclaimed property laws to include Bitcoin and other digital currencies, effectively creating the state’s inaugural crypto reserve.
Bhandari also referenced Bhutan’s innovative crypto strategy, particularly its use of hydropower for Bitcoin mining since 2021. By May 2025, Bhutan is projected to have accumulated a substantial $1 billion Bitcoin reserve, providing a regional perspective on the potential of crypto assets.
In his view, the strategic shifts in the US and Bhutan offer valuable insights for India. He suggests that incorporating Bitcoin into India’s economic framework could provide diversification benefits to traditional reserves amidst global economic uncertainties. Bhandari further proposes that India’s renewable energy resources could support a model similar to Bhutan’s, demonstrating how digital assets can stabilize economies.
The Necessity of Crypto Regulatory Reform in India
Bhandari emphasizes that these proposals reflect a growing awareness of Bitcoin’s potential to enhance fiscal resilience and serve as a safeguard in volatile economic landscapes. He argues that these are not hasty moves, but rather calculated steps towards recognizing the legitimacy of digital assets.
India is at a critical crossroads, with the potential to spearhead global markets through a well-considered Bitcoin strategy, such as a reserve pilot, which could enhance economic resilience and underscore the nation’s modernity. However, Bhandari underscores the importance of clear regulation, as India’s current crypto policy lacks the clarity needed to unlock the industry’s full potential.
Despite the taxing of crypto assets, the sector remains largely unregulated. Bhandari points out that in 2023, India chaired a crypto working group alongside the International Monetary Fund (IMF) to establish global standards. He advocates for India to take a proactive stance, similar to the US and other pioneering jurisdictions, rather than waiting for a global consensus.
Comprehensive regulation could introduce both transparency and necessary oversight to this emerging asset class. This would facilitate responsible innovation while safeguarding an expanding investor base. Bhandari concludes that regulatory clarity is crucial for fostering institutional confidence and establishing a framework where Bitcoin can significantly contribute to India’s macroeconomic strategy.
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