Indian Crypto Adoption Defies Regulatory Concerns

Crypto adoption in India remains strong despite regulatory concerns and a lack of clear guidelines. According to data from the finance ministry, the value of Virtual Digital Asset (VDA) transactions grew by 131% between FY23 and FY25, reaching Rs 1,09,580 crore.

Nischal Shetty, Founder of WazirX, notes that most traders are in the 20-30 year age bracket, with a majority of users coming from non-metro cities. The Crypto Trends Report for H12026 by WazirX India found that over 82% of users come from outside metro areas, with a typical investor being a 34-year-old working professional.

However, regulatory clarity is still lacking. R. Gandhi, former RBI deputy governor, expresses concerns about crypto's lack of transparency and accountability, which he believes could lead to financial instability.