{"id":3787,"date":"2025-06-08T10:52:16","date_gmt":"2025-06-08T10:52:16","guid":{"rendered":"https:\/\/ventil.rs\/blog\/business\/india-needs-a-stablecoin-first-crypto-policy-say-industry-experts\/"},"modified":"2025-06-08T10:52:16","modified_gmt":"2025-06-08T10:52:16","slug":"india-needs-a-stablecoin-first-crypto-policy-say-industry-experts","status":"publish","type":"post","link":"https:\/\/ventil.rs\/blog\/business\/india-needs-a-stablecoin-first-crypto-policy-say-industry-experts\/","title":{"rendered":"India Needs A Stablecoin-First Crypto Policy, Say Industry Experts"},"content":{"rendered":"


\n<\/p>\n

\n

Last Updated:<\/span>

The U.S. GENIUS Act regulates stablecoins as distinct financial instruments. Indian experts suggest India adopt a similar framework for INR-backed stablecoins.<\/h2>\n
<\/p>\n

The recent developments in the GENIUS Act has brought the US one step closer to regulating the $250 billion stablecoin market. <\/p>\n<\/figure>\n

As the U.S. takes a major step toward regulating stablecoins with the GENIUS Act, Indian crypto experts say it\u2019s time for India to follow a similar path\u2014by building a stablecoin-specific framework instead of sweeping regulation across the entire crypto landscape.<\/p>\n

The Guiding and Establishing National Uniform Innovation in Stablecoins (GENIUS) Act, recently cleared by the U.S. Senate Banking Committee, proposes a clear framework for \u201cpayment stablecoins”\u2014digital tokens backed 1:1 by fiat, meant for payments and settlement. According to Vikram Subburaj, CEO of Giottus, the Act is significant because it treats stablecoins as a distinct financial instrument, similar to money market funds, separating them from the regulatory ambiguity surrounding other digital assets.<\/p>\n

It also recognises the systemic importance of stablecoins in the evolving architecture of digital payments and programmable finance. The customer-centric provisions are clearly laid out. Its provisions for reserve requirements (cash, bank-insured deposits etc); clear redemption rights; and dual licensing (federal and state-chartered) are clearly aimed at safeguarding user funds, all the while allowing ample scope for innovation within a defined compliance perimeter.<\/p>\n

Subburaj notes that the Act includes strong consumer safeguards\u2014reserve requirements, redemption rights, and dual licensing\u2014that protect users while promoting innovation. He believes India could benefit from a similar phased strategy. \u201cA stablecoin-first policy like the GENIUS Act could offer a pragmatic entry point for Indian regulators,” he said, adding that INR-backed stablecoins can integrate with systems like UPI and lower remittance and transaction costs domestically and globally.<\/p>\n

Echoing this, Edul Patel, CEO of Mudrex, emphasized that a targeted regulatory approach would bring legal clarity, boost innovation, and strengthen consumer trust. \u201cFacilitating stablecoin use in remittances alone could save Indian users $6\u20138 billion annually in fees,” he said, highlighting the economic potential.<\/p>\n

\n

Such regulation would offer much-needed legal clarity, increase consumer protection, and open doors for innovation in digital finance, he added.<\/p>\n<\/div>\n

\n
\n
<\/p>\n
\"authorimg\"<\/figure>\n

<\/span><\/p>\n

Varun Yadav<\/a><\/p>\n

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More<\/span><\/p>\n<\/div>\n<\/div>\n

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More<\/span><\/p>\n<\/div>\n<\/div>\n

\n
\n

Stay updated with all the latest business news, including\u00a0market trends<\/a>,\u00a0stock updates<\/a>,\u00a0tax<\/a>, IPO,\u00a0banking finance<\/a>, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates\u2014only on News18. Also\u00a0Download the\u00a0News18 App<\/a>\u00a0to stay updated!<\/span><\/p>\n<\/div>\n<\/div>\n