According to Foresight News, Jayant Sinha, Chairman of the Indian Parliament's Standing Committee on Finance and Parliamentary Minister of the ruling Bharatiya Janata Party (BJP), answered a question during an interview with CoinDesk at the India Blockchain Week in Bangalore. The question was about when India could expect legislation for Web3. The legislator stated that India is unlikely to propose legislative bills for cryptocurrencies or Web3 in the short term, possibly not until mid-2025.
Jayant Sinha said, 'India is different from other economies like Singapore, South Korea, or the United States. When we talk about cryptocurrencies, we have to be very careful and cautious, even if cryptocurrencies are just one use case of the revolutionary Web3 series of technologies.'