Among the neighbors of India, Bhutan was at the forefront of the exploitation of cryptography, using its considerable hydroelectricity. He also has cryptocurrencies in a strategic reserve in his city of Gelephu Mindfulness. According to reports, Bhutan has $ 1.1 billion in such reserves. Pakistan has also announced its intention to legalize cryptocurrency to attract foreign investments.
The United States has announced the creation of a strategic cryptocurrency reserve which includes digital currencies seized by the police. It remains to be seen if it would be a different value store like gold. However, the volatility inherent in cryptocurrencies would reduce its usefulness as an inflationary hedge.
In India, the cryptocurrency worth around 37 million dollars was seized by the police due to illegal and criminal activities. The 2025 financial bill has changed the definition of uncluttered income to include digital assets. This could result in more crises.
A strategic reserve of digital assets seized would be countertily considered as a positive signal for the cryptocurrency market because it is part of the sovereign kitty. According to the recently published manual of the IMF on the balance of payments, strategic reserves must be processed in the same way as the acquisitions of cross -border land or the purchase of spectrum license.
The RBI has introduced a digital part of the central bank as an alternative to stablecoins. But with the maturation of the decentralized network, the stablecoins have become a force with which it is necessary to count. The fact that they are fixed to gold or a fiduciary currency have seen them.
Their global market value increased to nearly $ 200 billion at the beginning of 2025. Many governments that support stablecoins have sought to be controlled through licensees granted to issuers and have forced support for the full reserve, audits, statutory liquidity requirements and investor protection. Stablecoins also have the opportunity for India to rationalize the vast market for funding and promote innovation.
They have the potential to facilitate multinationals that make investments to make local payments for local currency products. In the long term, this could help India obtain a large market share on web platforms 3. A stablecoin to support the roupie would be an approach to attenuating the risks of dollarization, the maintenance of monetary autonomy and the limitation of the import of external stable stables linked to foreign currencies. Recent IMF directives classify stablescoins as financial instruments. This contrasts with the treatment of cryptocurrencies as non-produced non-produced rights.
Thus, new developments indicate that cryptocurrencies can no longer be rejected as a marginal phenomenon. Financial markets take advantage of Blockchain technology by introducing new products on interest. There is a continuous effort towards the tokenization of financial assets and increasing institutional investments in cryptocurrencies. It is a future that envisages greater integration of cryptocurrencies into the financial system.
Geetha ravichandran
Former bureaucrat and author, more recently The fate of the rain shaft
