RBI believes that cryptocurrencies are a threat to India's sovereign interest
Officials from the Reserve Bank of India or the RBI, including its governor Shaktikanta Das, talked about cryptocurrencies and their impact on India while briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, as per reports from local media.
Cryptocurrencies causing 'dollarization' of the economy: RBI
India has been relatively harsh when it comes to cryptocurrency taxation, and currently, policymakers consider crypto gains similar to gains made from race betting, gambling, and other such instruments. Moreover, as per the recent conversation between RBI and the Standing Committee, the officials expressed that cryptocurrencies will cause the "dollarization" of a part of the Indian economy, which goes against the sovereign interests of the nation."It will seriously undermine the RBI's capacity to determine monetary policy and regulate the monetary system of the country," said an RBI official, as per a member of the panel.The officials pointed out the potential threat that cryptocurrencies posses to the authority of the central bank by becoming a medium of exchange and replacing the rupee in financial transactions, both domestic and cross-border.
"Almost all cryptocurrencies are dollar-denominated and issued by foreign private entities, it may eventually lead to dollarization of a part of our economy, which will be against the country's sovereign interest," the RBI officials told the members.
28% Goods and Services Tax (GST)
It is also important to note that the authorities in India, including the RBI, do not see cryptocurrencies as a form of payment. As a result, the Goods and Service Tax (GST) Council plans to implement 28% GST on cryptocurrency investment. Currently, the crypto gains are taxed at a rate of 30%, followed by 1% TDS on every transaction. However, lawmakers have called for higher taxation due to the huge gains that BTC, ETH, and altcoins provide to the users.100% Success Money Back Guarantee
If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Take your next step towards crypto success
$799/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
What’s included in Pro:
Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
Our latest memecoins pick with 50X potential
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the success guarantee work?
If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.
Recommended from Cryptonary
