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COINS Act Model Law Aims to Boost India’s Crypto Ecosystem and Stop Developer Exodus
COINS Act – Aiming to bring long-needed clarity to India’s chaotic crypto policy landscape, Web3 venture firm Hashed Emergent and advisory group Black Dot have introduced a groundbreaking model law called the Crypto-systems Oversight, Innovation and Strategy (COINS) Act.
Though the COINS Act is non-binding, its influence could be monumental if embraced by policymakers.
A Blueprint for Crypto Freedom in India
Unveiled this Monday, the COINS Act sets out to establish clear legal rights for crypto users and developers in India. These include self-custody, protocol access, and financial privacy — fundamental areas that currently exist in a grey zone under Indian law.
The act also recommends forming a dedicated regulatory body, the Crypto Assets Regulatory Authority (CARA), inspired by global frameworks like the EU’s MiCA regulation and Singapore’s regulatory sandbox.
Tackling Harsh Taxes and Regulatory Confusion
India currently taxes crypto profits at a steep 30% flat rate under the Income Tax Act, along with a 1% TDS on transactions over $115 — policies many consider hostile to innovation.
Arvind Alexander, legal counsel at Hashed Emergent, said the COINS Act “flips the script” by embedding crypto rights as constitutional extensions, offering differentiated regulatory paths: full licensing for centralized exchanges, simple disclosures for non-custodial platforms, and full exemptions for truly permissionless protocols.
Bitcoin Reserve & Stopping Developer Exodus
The model law even proposes a national Bitcoin reserve, seeded by confiscated crypto and modest market buys, mirroring recent calls by BJP spokesperson Pradeep Bhandari.
Vishal Achanta of Hashed Emergent emphasized the act’s potential to stop the developer exodus and make India a global Web3 hub through “rights-first certainty and calibrated oversight.”
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
