Gandhinagar (Gujarat) [India], December 7 (ANI): Gujarat National Law University (GNLU) has launched a major effort to inform India’s developing approach to crypto asset regulation, convening its first Advisory Board Consultation alongside a Regional Stakeholder Consultation as part of a national research project.
Held in Gandhinagar and Bengaluru, the consultations are components of GNLU’s interdisciplinary study, “Assessing the Case for Regulation of Crypto Assets in India.” The project is led by S Shanthakumar, Director of GNLU, supported by a research team with expertise across law, commerce and technology.
The study reviews the effectiveness of existing legal frameworks for virtual digital assets (VDAs) in India, aiming to produce an evidence-based model to guide future regulation. Advisory Board discussions examined regulatory gaps and considered measures to strengthen investor protection, preserve market integrity, reinforce enforcement, and encourage innovation without undermining financial stability.
The Advisory Board includes former Supreme Court Judge Justice M. R. Shah, former Gujarat High Court Judge Justice Ravi Tripathi, former Gujarat Chief Secretary Rajkumar, former Additional Chief Secretary JP Gupta, and Keshav Kumar, former Director General of Police and Director of the Anti-Corruption Bureau, alongside cybersecurity specialists, academics, technology entrepreneurs and cyber law experts.
Key themes that emerged were the need for clearer legislative definitions of crypto assets, improved coordination among regulators, simplified taxation, enhanced consumer protection, and more effective dispute resolution and cross-border compliance mechanisms.
Complementing the policy discussions, GNLU’s Regional Stakeholder Consultation in Bengaluru — a major centre for India’s crypto and blockchain sector — gathered industry professionals, exchange operators, technology innovators and service providers to share practical insights on market challenges, operational constraints and regulatory reform opportunities.
Outcomes from both consultations will inform the project’s final policy recommendations. Shanthakumar said the research seeks to help India build frameworks that balance technological innovation with appropriate safeguards as the country moves toward a more structured crypto regulatory regime. (ANI)
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