A higher figure in the ruling Bharatiya Janata party (BJP) of India has called on the country to integrate Bitcoin into his official reserve strategy.
On July 26, Prapep Bhandari, a spokesperson for the BJP, encouraged Indian policymakers to use a measured approach to Bitcoin, which suggests that even a small -scale pilot program could strengthen the economic resilience of India and adjust the country to emerging global trends.
According to him:
“India is at a crucial moment. A measured bitcoin strategy – perhaps a reserve pilot – could strengthen the economic resilience and project modernity.”
The statesman emphasized the rising popularity of Bitcoin, especially after the movement of the United States to set up a strategic reserve.
Bhandari also pointed to neighboring Bhutan as an example of how countries can use domestic means to deal with digital assets. Bhutan uses his capacity for renewable energy for Bitcoin -Mybouw and has raised his crypto companies without making direct purchases.
According to Bhandari, India could follow a similar model and reduce dependence on foreign markets and at the same time improve tax self -reliance.
He wrote:
“India, with its capacity of renewable energy consumption, has the full scale of the ability to adjust this model, although scale and regulations yield various challenges. The success of Bhutan suggests that digital assets can stabilize economies, a point that is worth considering.”
In view of this, Bhandhari emphasized that India does not have to hurry until full acceptance, but could launch a controlled pilot program. This would enable policymakers to study the impact of actively and at the same time demonstrate a modern and progressive approach to global financing.
Calls for crypto regulations
In addition to the reserve strategy, Bhandari emphasized the need for India to develop an extensive crypto control framework.
While India is currently in charge of digital assets, it lacks clear laws that control their use and integration into the broader financial system.
According to Bhandari, this regulatory gap of India places a disadvantage compared to countries such as the United States, Russia, Brazil and China, which have already made progress in drawing up crypto policy at national level.
He argued that regulations should evolve in addition to innovation, not lagging behind. A well -defined framework, he said, would not only protect investors, but also solidify the position of Bitcoin within the future economic route map of India.
Bhandari also pointed to the recent classification of Bitcoin by the International Monetary Fund as a capital active, with the argument that this global recognition reflects the need for India to act decisively and strategically.
