India's Ruling Party: 'Cryptocurrency Regulation Clarity Needed… Should Consider Bitcoin Reserves'

JOON HYOUNG LEE

Summary

A spokesperson for the Bharatiya Janata Party stated that Bitcoin reserves could strengthen India's economic resilience.
The necessity for cryptocurrency regulation clarity was emphasized, saying it builds institutional trust.
It was explained that the International Monetary Fund (IMF) classifying Bitcoin as a capital asset has increased the need to set policy direction.

The Bharatiya Janata Party (BJP), India's ruling party, has hinted at the possibility of holding Bitcoin (BTC) as reserves.

Pradeep Bhandari, spokesperson for the Bharatiya Janata Party, stated in an article published in India Today on the 26th (local time), “India now stands at a critical crossroads,” adding, “A carefully designed Bitcoin strategy, including the accumulation of strategic reserves, could strengthen India's economic resilience and help enhance the country’s modern image.”

He also emphasized the need for regulatory clarity. Bhandari stressed, “For India's cryptocurrency policy to realize its potential, regulatory clarity is essential,” and noted, “With the International Monetary Fund (IMF) recently classifying Bitcoin as a capital asset, the need to set policy direction has increased.” He added, “(Regulatory clarity) is crucial for building institutional trust and for Bitcoin to play a meaningful role in India's macroeconomic strategy.”

BTC