India's relationship with blockchain and cryptocurrency has been complex, contentious, and ultimately constructive. Let's analyze where things stand in 2026 — and what it means for projects like INRC.
Regulatory Framework
India taxes Virtual Digital Assets (VDAs) at 30% flat rate on gains, plus 1% TDS on transactions above certain thresholds. The Prevention of Money Laundering Act (PMLA) now covers crypto exchanges. India has not banned cryptocurrency — it has chosen to regulate it heavily. This clarity, while expensive for traders, is far better than prohibition.
The Digital Rupee (e₹)
The Reserve Bank of India launched its Central Bank Digital Currency (CBDC) — the Digital Rupee (e₹) — in a phased pilot. The e₹ is fundamentally different from INRC: it's government-issued, centralized, and tracks every transaction. INRC offers what the e₹ cannot: permissionless access, smart contract programmability, and true financial autonomy.
Major Indian Crypto Exchanges
WazirX, CoinDCX, ZebPay, and Bitbns are the major Indian crypto exchanges — all registered with FIU-IND under PMLA. Indian citizens can purchase crypto through these platforms using UPI and bank transfers. INRC can be acquired by first buying MATIC on these exchanges and then swapping on Uniswap.
The G20 Crypto Framework
India's G20 presidency produced the first comprehensive global framework for crypto assets, following IMF and FSB recommendations. This international coordination is positive for the long-term legitimacy of cryptocurrency — including tokens like INRC.
Looking Ahead
India's crypto policy continues to evolve. Tax rate reductions are being discussed in parliament. SEBI (Securities and Exchange Board of India) is considering a regulatory framework for crypto assets. Web3 startups are receiving government grants under the PM Gati Shakti program. The trajectory is positive — India's crypto future is being written right now.