India Eyes Bitcoin Reserve Pilot for Economic Resilience
BJP’s Pradeep Bhandari urges India to launch a Bitcoin reserve pilot, aiming for innovation and fiscal strength in a changing global economy.
- BJP spokesperson advocates for a national Bitcoin reserve pilot.
- Highlights U.S. and Bhutan crypto initiatives as global precedents.
- Calls for clear regulation to balance innovation with investor protection.
Global Examples & Strategic Timing
Pradeep Bhandari, national spokesperson for India’s ruling BJP, proposes a Bitcoin reserve pilot for the country. He references recent U.S. moves to treat Bitcoin as a strategic reserve asset and Bhutan’s innovative crypto mining powered by hydropower. According to Bhandari, India should consider this not as a radical shift, but as a smart, forward-thinking move to keep pace with global financial innovation.
Leveraging Renewables & Fiscal Resilience
India is rapidly growing its renewable energy infrastructure—solar, wind, and hydropower. Bhandari believes this can support energy-efficient Bitcoin mining, similar to Bhutan’s model which has already built a billion-dollar crypto reserve. A pilot program could strengthen India’s financial system and showcase a balanced approach to integrating digital assets into national reserves.
Regulation: The Missing Piece
Despite having a strict tax regime on crypto—30% flat profit tax and 1% TDS—India still lacks a clear regulatory framework. Bhandari is calling for updated, thoughtful regulation to protect investors while enabling responsible innovation. He points out that although India played a key role in forming a global crypto policy discussion during its G20 presidency, it now risks falling behind other nations making bold moves in the space.
Looking Ahead: Potential Outcomes
A Bitcoin reserve pilot would allow India to explore Bitcoin’s role in national finance with limited risk. Potential benefits include improved transparency, a boost to financial innovation, and enhanced credibility in global economic forums. Still, any move would need strict oversight, volatility management, and careful regulatory planning. Bhandari maintains that such a step can mark India’s leadership in the next phase of the financial revolution.
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