GNLU’s expert-led consultations in Gandhinagar and Bengaluru emphasize the need for clear legislation, stronger safeguards, regulatory coordination, and an innovation-supportive environment for India’s emerging crypto ecosystem.
Gandhinagar, 5 December 2025
The Gujarat National Law University (GNLU) has taken a significant step toward shaping India’s future regulatory architecture for crypto assets. As part of its national research initiative, the university has conducted its first Advisory Board Consultation and Regional Stakeholder Consultation, bringing together diverse voices from policy, industry, and academia.
The consultations are anchored in GNLU’s interdisciplinary research project titled “Assessing the Case for Regulation of Crypto Assets in India.” Led by Prof. (Dr.) S. Shanthakumar, Director of GNLU, the study draws expertise from legal scholars, commerce specialists, technologists, and cyber experts. The project intends to evaluate the existing regulatory environment governing virtual digital assets (VDAs) and develop a practical, evidence-backed model for future policymaking.
During the Advisory Board meeting in Gandhinagar, experts closely examined the gaps in India’s current legal and regulatory landscape. Discussions focused on strengthening investor protection, promoting market integrity, enhancing enforcement capacity, and ensuring that innovation in the crypto sector is not hindered while maintaining systemic stability.
The Advisory Board includes distinguished personalities such as Hon’ble Justice M. R. Shah (Former Judge, Supreme Court), Hon’ble Justice Ravi Tripathi (Former Judge, Gujarat High Court), Sh. Rajkumar (Former Chief Secretary, Government of Gujarat), Sh. J. P. Gupta (Former Additional Chief Secretary, Government of Gujarat), and Dr. Keshav Kumar (Former DGP & Director, Anti-Corruption Bureau), along with leading academicians, industry professionals, cybersecurity specialists, and technology entrepreneurs.
Key themes emerging from the discussions highlighted the need for clearer legislative definitions for crypto assets, stronger inter-agency coordination, more transparent and simplified taxation policies, enhanced consumer protection, and improved mechanisms for dispute resolution and cross-border compliance.
Moving beyond the legal sphere, GNLU conducted a Regional Stakeholder Consultation in Bengaluru—one of India’s leading hubs for blockchain and crypto innovation. Representatives from exchanges, technology startups, industry bodies, and service providers shared insights on real-world challenges, operational constraints, and regulatory gaps that impact the sector. Stakeholders underscored the importance of responsible innovation supported by predictable and enabling regulations.
GNLU officials noted that the combined outcome of these consultations offers a holistic understanding of regulatory requirements, balancing policy direction with industry realities. This feedback will significantly inform the final recommendations of the research project.
Reinforcing GNLU’s commitment, Prof. Shanthakumar stated, “Our goal is to contribute to India’s development of informed, forward-looking regulation that enables innovation while ensuring robust safeguards. Evidence-based research is central to shaping effective policy in this rapidly evolving domain.”
The project will continue engaging with stakeholders across the country as India progresses toward a coherent, comprehensive, and future-ready regulatory framework for crypto assets.
