GNLU’s high-level consultations in Gandhinagar and Bengaluru brought experts and industry leaders together, underscoring the need for clear rules, stronger safeguards, and innovation-driven regulatory reforms for India’s crypto ecosystem.
Gandhinagar, 5 December 2025
The Gujarat National Law University (GNLU) has taken a significant step toward formulating a well-defined regulatory framework for crypto assets in India, organizing a high-level Advisory Board Consultation along with a Regional Stakeholder Consultation under its national research initiative.
These consultations form part of GNLU’s interdisciplinary project, “Assessing the Case for Regulation of Crypto Assets in India,” led by Prof. (Dr.) S. Shanthakumar, Director, GNLU. The project draws on the combined expertise of specialists in law, commerce, technology, and cybersecurity to study India’s evolving virtual digital asset (VDA) landscape.
The research aims to thoroughly assess the existing legal and regulatory mechanisms governing VDAs in India and present evidence-based recommendations to guide future policy development. During the Advisory Board meeting, participants examined key regulatory gaps and discussed approaches to strengthen investor protection, enhance market transparency, improve enforcement structures, and promote innovation while ensuring systemic stability.
The Advisory Board comprises distinguished jurists, former bureaucrats, cybersecurity professionals, academic leaders, and industry experts. Eminent members include Hon’ble Justice M. R. Shah (Former Judge, Supreme Court), Hon’ble Justice Ravi Tripathi (Former Judge, Gujarat High Court), Sh. Rajkumar (Former Chief Secretary, Government of Gujarat), Sh. J. P. Gupta (Former Additional Chief Secretary, Government of Gujarat), and Dr. Keshav Kumar (Former DGP & Director, Anti-Corruption Bureau), along with technology entrepreneurs and cyber law specialists.
Key issues highlighted during the deliberations included the need for clearer statutory definitions of crypto assets, stronger inter-agency regulatory coordination, simplified and transparent taxation frameworks, enhanced consumer protection mechanisms, and improved models for dispute resolution and cross-border compliance.
Recognizing the importance of industry participation, GNLU also conducted a Regional Stakeholder Consultation in Bengaluru—India’s leading center for crypto and blockchain innovation. Representatives from exchanges, technology firms, startups, and service providers shared practical insights on operational challenges and discussed regulatory reforms that could support responsible and sustainable growth of the sector.
The combined insights from both consultations offer a comprehensive understanding of India’s regulatory needs, bridging policy expertise with real-world market experiences. According to GNLU officials, the feedback gathered will be central to shaping the project’s final set of recommendations.
Prof. Shanthakumar emphasized GNLU’s commitment to supporting the nation’s move toward structured and future-ready crypto regulation. “Our research aims to provide informed, balanced guidance that promotes innovation while ensuring robust safeguards and institutional preparedness,” he said.
GNLU will continue engaging stakeholders across sectors in the coming months as India works toward establishing a clear, comprehensive, and effective regulatory framework for crypto assets.
