A new survey by crypto investment platform Mudrex found that 93% of Indian investors want cryptocurrency to be regulated. The survey included over 9,000 participants from different age groups, regions, and professions.
Among those in favor, 56% want regulation to protect investors and ensure market stability. Around 24% believe rules should allow space for innovation, while 13% want regulation focused only on taxation. Half of the respondents also support setting up a dedicated regulator for digital assets.
India has ranked high in global crypto adoption, but the absence of clear rules has raised concerns among users and platforms alike.
Current Tax Rules Seen as a Barrier to Growth
Taxation was one of the top issues raised in the survey. About 84% of participants said the current tax system for crypto is unfair when compared to other investment options.
A 30% tax on gains was the most common concern, cited by two-thirds of respondents. Other issues included the inability to offset losses (12%), scams (12%), the 1% tax deducted at source (7%), and high exchange fees (3%).
The survey found that 90% of investors would be more likely to increase their exposure to crypto if tax rules were made simpler and easier to understand. Of these, 55% said they would invest more immediately, while 35% would consider it if tax rates were lower.
Mudrex CEO Edul Patel said, “Investors are not against rules; they’re against uncertainty.” He added that India has the talent and scale to grow the sector, but regulatory delays continue to hold it back.
Crypto Policy May Influence Voting Choices
Crypto is now entering political conversations as well. The survey found that 91% of respondents may consider a party’s position on crypto when voting. Of these, 67% said they are very likely to support a party that backs digital assets, while 24% are somewhat likely.
Younger voters in cities, especially those under 35, are more engaged in crypto-related issues and may base their voting decisions on how parties treat digital finance.
The study also looked at how investors view crypto as part of their financial plans. Around 64% see it as a long-term wealth-building tool. Others are motivated by interest (14%), short-term profits (12%), or as a hedge against inflation (6%). Only 4% said they were still unsure.
Information Gaps Remain as Users Turn to YouTube
The survey also covered where people get their crypto information. YouTube was the most used source, with 43% of respondents relying on it. News outlets came next at 19%, followed by friends and family (15%) and platforms like X (14%).
There is also a growing demand for formal education. About 77% of respondents said they want crypto and blockchain to be part of college-level courses in India. Only 12% supported waiting until adoption becomes wider.
Most respondents—78%—believe India is behind in adopting crypto and Web3. A smaller group (12%) agreed with the government’s slow and cautious approach.
The survey results come as the government works on a new discussion paper on crypto regulation. These findings provide insight into what investors expect from future policies.
