C Raja Mohan: In India, needed, a crypto strategy | Current Affairs | Vision IAS

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C Raja Mohan: In India, needed, a crypto strategy

2 min read

Cryptocurrency Collaboration Between Pakistan and World Liberty Financial Inc

India is observing with interest the unexpected enthusiasm of the Trump administration in renewing ties with Pakistan, marked by a significant cryptocurrency collaboration.

Partnership Overview

  • World Liberty Financial Inc (WLFI): A firm linked to the Trump family is collaborating with Pakistan's newly formed Pakistan Crypto Council.
  • Memorandum of Understanding (MoU): Signed to promote blockchain technology, financial inclusion, and position Pakistan as a regional crypto hub.

Potential Implications

  • Economic Concerns: The viability of the plans is uncertain due to Pakistan's struggling economy.
  • Security Risks: India is wary of potential misuse of cryptocurrencies for funding terrorism and money laundering due to their decentralized nature.
  • Global Financial Order: Cryptocurrencies are reshaping monetary policies and economic flows, with the Trump administration aiming to lead in digital assets.

Trump Administration's Crypto Strategy

  • Reversal of Scepticism: Trump has shifted from scepticism to supporting the crypto sector, dismantling previous regulatory barriers.
  • Executive Orders
    • National blockchain innovation strategy and ban on central bank digital currency (CBDC).
    • Creation of a Strategic Bitcoin Reserve and US Digital Asset Stockpile.
  • Market Response: Bitcoin's value surged, with a significant increase observed in March 2025.

Pakistan's Crypto Strategy

  • Leadership and Regulation: Bilal bin Saqib appointed to lead the Pakistan Crypto Council and develop a regulatory framework.
  • Community and Diaspora Engagement: Pakistan aims to leverage its diaspora, especially tech entrepreneurs, to strengthen ties with the Trump administration.

Concerns for India

  • Technological and Security Implications: India needs to consider its own crypto strategy as Pakistan and global trends evolve.
  • Legal and Policy Framework: The Indian Supreme Court highlighted the mismatch between taxing crypto assets and the lack of regulatory framework.

Overall, the geopolitical and technological implications of these developments are significant, necessitating India's engagement and strategic planning in the crypto domain.

  • Tags :
  • Crypto- strategy
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