The Press Information Bureau (PIB) on Wednesday clarified that claims suggesting the Ministry of Finance is planning to regulate cryptocurrency in India are false. Responding to a widely circulated social media post, PIB said that the government has not issued any directions to the Reserve Bank of India (RBI) or the Securities and Exchange Board of India (SEBI) to examine the possibility of regulating crypto assets. The clarification came amid growing discussions and misinformation surrounding the government’s stance on digital currencies.
In a post shared from its official account on X, PIB stated that the claim about the Finance Ministry seeking regulatory action on cryptocurrency was fake. The government’s fact-checking body also highlighted that regulating cryptocurrency would imply recognising it as an asset, which is not currently the position of India’s policy framework. PIB reiterated that India does not recognise cryptocurrency as an asset and no such instructions have been issued by the Ministry of Finance.
The clarification urged citizens to depend only on official government sources for accurate information and avoid relying on unverified claims circulating online. The statement comes as discussions around cryptocurrency regulation continue globally, with governments and financial institutions reviewing approaches to digital currencies, taxation and investor protection. However, Indian authorities have maintained a cautious approach towards recognising cryptocurrencies within the formal financial system.
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The development comes at a time when global cryptocurrency markets have experienced significant volatility. Digital assets have faced sharp fluctuations amid concerns over economic growth, recession risks and geopolitical uncertainty. Market movements have also reflected changes in investor sentiment, with some institutional investors shifting capital from riskier assets such as cryptocurrencies towards traditional safe-haven investments, including US Treasury securities and physical gold.
Cryptocurrency regulation remains a subject of ongoing debate in India, where authorities have focused on monitoring risks related to financial stability, consumer protection and potential misuse. While digital assets are subject to taxation rules in the country, the government has not granted them the status of recognised assets or currencies. The latest PIB clarification reinforces that no new regulatory decision regarding cryptocurrency has been announced by the Ministry of Finance.
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