India stepping up in the crypto game big time. Picture this, India, a land bursting with tech talent, yet stuck in a regulatory fog that’s got blockchain builders hitting the pause button.

Enter the COINS Act, a shiny new proposal from Web3 venture masterminds Hashed Emergent and policy gurus Black Dot, wanting to clear the air and lay down the law for crypto in a way that’s both firm and fair.

Clear rights

For years, crypto in India has been the grey zone, no clear rules, confusion everywhere, and taxation that’s about as straightforward as your grandma’s old Las Vegas numbers game. Now, the COINS Act says enough.

It sets up clear user rights, tightens up security with strict KYC and AML, and calls for smarter tax reforms.

Like a wise boss finally laying out company policies that everyone can actually understand and follow.

Credibility

Aishwary Gupta, the big cheese of Payments over at Polygon Labs, is singing praises loud like after someone finally fixed the broken printer in the office.

“India’s crypto scene needs this kind of clarity, a tiered approach separating protocol developers, intermediaries, and custodians. It’s about time we get rules that don’t kill innovation but guide it.”

That’s like getting your team organized before the big pitch, no chaos, just smooth moves. Gupta stresses India shouldn’t just play catch-up, but become a global leader.

Why? Because Indian developers, brilliant as they are, often move abroad just to find better legal footing.

The COINS Act could flip that script, giving local builders a passport to operate globally, with credibility and without hassle.

Oiling the gears

And on taxes, Gupta pushes for balanced tax laws that don’t scare off investors or innovators.

He wants laws that spark growth, create jobs, and turbocharge India’s dream of being a tech hub.

Basically, no more traps hidden behind complex forms and obscure rules. Think of it as oiling the gears so the blockchain engine runs buttery smooth.

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