India Urged to Follow US and Bhutan in Adopting a Sovereign Bitcoin Strategy
- India may create a sovereign Bitcoin reserve inspired by US and Bhutan models.
- Regulatory uncertainty and high crypto taxes hinder India’s digital asset progress.
- Clear rules and a Bitcoin reserve pilot could boost India’s economic resilience.
A high-profile spokesperson for India’s ruling party is now publicly calling for the government to consider establishing a sovereign Bitcoin reserve.
Pradeep Bhandari, the ruling party, Bharatiya Janata Party’s national spokesperson, highlighted the changing global situation and suggested India should follow the examples set by countries like the United States and Bhutan, which have taken concrete steps to include Bitcoin in their national financial strategies.
New Push for a National Crypto Strategy
Bhandari referenced the U.S., where over 200,000 Bitcoins, seized during legal proceedings and valued at more than $20 billion, have been converted into a strategic reserve. Bhutan, by contrast, has capitalized on its abundant hydropower resources to mine Bitcoin worth over $1 billion.
The proposal from Bhandari suggests India could establish a small Bitcoin reserve, holding between 5,000 and 10,000 BTC. This …
The post India Urged to Follow US and Bhutan in Adopting a Sovereign Bitcoin Strategy appeared first on Coin Edition.
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India Urged to Follow US and Bhutan in Adopting a Sovereign Bitcoin Strategy
- India may create a sovereign Bitcoin reserve inspired by US and Bhutan models.
- Regulatory uncertainty and high crypto taxes hinder India’s digital asset progress.
- Clear rules and a Bitcoin reserve pilot could boost India’s economic resilience.
A high-profile spokesperson for India’s ruling party is now publicly calling for the government to consider establishing a sovereign Bitcoin reserve.
Pradeep Bhandari, the ruling party, Bharatiya Janata Party’s national spokesperson, highlighted the changing global situation and suggested India should follow the examples set by countries like the United States and Bhutan, which have taken concrete steps to include Bitcoin in their national financial strategies.
New Push for a National Crypto Strategy
Bhandari referenced the U.S., where over 200,000 Bitcoins, seized during legal proceedings and valued at more than $20 billion, have been converted into a strategic reserve. Bhutan, by contrast, has capitalized on its abundant hydropower resources to mine Bitcoin worth over $1 billion.
The proposal from Bhandari suggests India could establish a small Bitcoin reserve, holding between 5,000 and 10,000 BTC. This …
The post India Urged to Follow US and Bhutan in Adopting a Sovereign Bitcoin Strategy appeared first on Coin Edition.
Read More