As of April 2025, South Asian countries are taking very different approaches to cryptocurrencies. Some are embracing crypto with clear regulations, while others continue strict bans due to financial risks. Here's the latest situation from across the region.
Pakistan Moves Forward with Crypto Legalization
Pakistan is taking a bold step by legalizing cryptocurrencies and introducing a formal regulatory framework. The new Virtual Assets Bill 2025 outlines how virtual assets like Bitcoin and Ethereum can be legally traded, used, and regulated within the country.
A new government body called the National Virtual Assets Regulatory Commission will supervise licensing, exchanges, and compliance with anti-money laundering (AML) laws. This is a big move aimed at making Pakistan a regional leader in the digital economy.
To support innovation, Pakistan also launched the Pakistan Crypto Council, a strategic group that includes global crypto leaders. Binance co-founder Changpeng Zhao has joined as an adviser, helping Pakistan shape its crypto future.
India Shows Signs of Softening Its Crypto Stance
India hasn’t fully legalized crypto, but things are moving in a more flexible direction. The government currently taxes crypto profits at 30% and requires service providers to register with the Financial Intelligence Unit (FIU).
Big platforms like Coinbase have now officially registered with India’s regulators, which suggests a more open environment is developing. However, lawmakers say complete crypto laws won’t come until at least mid-2025 as they continue to evaluate the risks and benefits.
Bangladesh Still Maintains a Strict Crypto Ban
Bangladesh is sticking to its complete ban on cryptocurrencies. Since 2017, the Bangladesh Bank has prohibited all crypto transactions, citing the risk of money laundering and threats to financial stability.
Even with the ban in place, crypto activity in Bangladesh is growing quietly. In fact, the country ranked 35th globally in the 2024 Crypto Adoption Index, showing that many people are using peer-to-peer platforms and international apps despite the restrictions.
Nepal Keeps Its Anti-Crypto Policy
Nepal also continues to ban cryptocurrencies. The Nepal Rastra Bank considers crypto illegal and warns that trading or using virtual currencies is risky for the country's economy. The central bank says fraud, instability, and unregulated flows of money are the biggest concerns.
South Asia Is Divided on the Crypto Question
While Pakistan is welcoming crypto with open arms and India is becoming more flexible, countries like Bangladesh and Nepal are choosing caution and control.
This shows how different the priorities are in each country some are pushing for innovation and investment, while others are focused on financial safety and regulation.
As cryptocurrency continues to grow worldwide, South Asia will likely face more pressure to either open up or reinforce its current rules.
Read More: IMF Releases World Economic Outlook 2025 – Global Growth Slows, Inflation Eases.
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