Woofun AI data shows that approximately 39 million verified users in India hold $2.1 billion in virtual digital assets, with 54 service providers registered with the Financial Intelligence Unit. The jurisdiction enforces a 30% tax on gains and a 1% tax deducted at source on transactions.

The Reserve Bank of India continues to urge banks to avoid exposure to private cryptocurrencies and stablecoins to safeguard financial stability, while the proposed crypto bill remains unfinalized.

Concurrently, government entities like AIIMS Delhi and the Cotton Corporation of India utilize permissioned blockchains for non-trading administrative functions.