DIGITAL ASSETS AND THE LAW: AN INDIAN PERSPECTIVE WITH COMPARATIVE LESSONS FROM THE US AND UAE
DIGITAL ASSETS AND THE LAW: AN INDIAN PERSPECTIVE WITH COMPARATIVE LESSONS FROM THE US AND UAE Tassaduq Hussain, Fourth-Year, B.A.LL. B (Hons.) Student, School of Law, University of Kashmir, Srinagar, J&K (India) Download Manuscript doi.org/10.70183/lijdlr.2025.v03.225 Digital assets have rapidly emerged as a defining feature of the global financial ecosystem. Cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and Central Bank Digital Currencies (CBDCs), all rooted in blockchain technology, are reshaping our understanding of value, ownership, and financial systems. In India, while adoption has surged, the regulatory and legal framework remains fragmented, reactive, and ambiguous. Against this backdrop, the research highlights India’s lack of a coherent, innovation-positive legal framework that strikes a balance between financial stability and technological growth. Employing a doctrinal and comparative methodology, the study examines statutes, case law, regulatory notifications, and scholarly commentary. It reviews existing literature to highlight the research gap and situates India’s regulatory efforts within an international context. The analysis reveals that while India focuses primarily on taxation and anti-money laundering measures, the US prioritises investor protection through enforcement, and the UAE fosters innovation through structured classifications and licensing. The paper concludes that India must adopt a hybrid model that combines clarity in classification, coordinated regulation, investor safeguards, and regulatory sandboxing. Such a framework will not only mitigate risks but also enable India to emerge as a leading jurisdiction in digital asset regulation.