India’s crypto market is changing. Price swings, new ideas, and rule changes are affecting how people invest. Platforms like CoinSwitch say current users are more active, even though fewer new users are joining. Bitcoin’s recent price jump has brought back interest.
However, worries about big price drops and old exchange hacks have made safety and trust more important. To help, platforms are adding new tools and asking for clearer rules.
Industry leaders also think the government will soon release a long-awaited paper on crypto. This may help shape future rules, taxes, and licenses for digital assets in India. Platforms like Stake India would also need to adapt as regulators implement more comprehensive rules regarding crypto.
The rise of crypto derivatives
As crypto prices go up and down, Indian investors are using new tools to handle the risk. CoinSwitch co-founder Ashish Singhal says the recent price changes have made users rethink how they trade.
Fewer new people are signing up, but those already on the platform are much more active. Trading volumes have gone up by as much as 300% compared to last year. More users are now taking some profits early or using strategies to protect against price drops.
To meet this change, CoinSwitch launched crypto options. These tools let users bet on future prices or protect their coins from big price swings. The options are easy to use, with flexible end dates and one of the lowest fees at 0.015%.
That makes them easier to access than similar tools on global apps. You can start trading with just 1 USDT (about ₹90). CoinSwitch hopes this will help more everyday users try advanced trading.
Jetking first Indian public company to invest in Bitcoin
In a major move, Jetking Infotrain Ltd., an IT training company from Mumbai, became the first listed Indian company to buy Bitcoin (BTC). On December 9, Jetking bought 12 BTC as part of its new plan to hold Bitcoin as its main savings asset.
The company has a market value of about $5 million and earns around $2 million each year. This shows a bold change in how Indian companies may start using crypto in their money plans.
The company said its Board of Directors agreed to this change to keep up with market trends and plan for future funding. The new plan also has rules to handle legal and business risks that come with holding Bitcoin. After the news came out, Jetking’s stock price went up 20% in one day, reaching its highest point in five years.
This move puts Jetking in the same group as big global Bitcoin buyers like MicroStrategy, which recently bought 21,550 BTC, and Riot Platforms, which plans to raise $500 million to buy more.
The company’s CEO, Avinash Bharwani, said at the Bitcoin Conference MENA in Abu Dhabi that the company wants to hold both BTC and company shares in its treasury to grow value over time.
Jetking’s decision on Bitcoin could encourage other Indian companies to think about digital assets. It also shows that decentralised finance (DeFi) is becoming an important part of business planning. As more companies try using blockchain, Jetking’s early choice might help crypto grow faster in India’s business world.
Coinbase delists tokens
On the other hand, Coinbase said that on June 26, 2025, it will delist four cryptocurrencies, such as:
- Render (RNDR)
- Ribbon Finance (RBN)
- Helium Mobile (MOBILE)
- Synapse (SYN)
After that time, you won’t be able to trade these tokens on Coinbase.com (both Simple and Advanced Trade), Coinbase Exchange, or Coinbase Prime. The tokens are being removed because new versions have come out, and the old ones no longer follow Coinbase’s rules.
Before the removal, the order books for these tokens changed to limit-only mode. This means users can place or cancel limit orders, but trades can still happen.
Meanwhile, Ripple (XRP) is still fighting against unclear crypto rules. Stuart Alderoty, Ripple’s top lawyer, said the company sent a letter to the SEC’s Crypto Task Force. This was in response to Commissioner Hester Peirce’s ‘New Paradigm’ speech. Ripple said that digital assets first sold as investments can stop being securities when they are traded later on.
This is because they lose the legal features of securities. Ripple pointed to a 2023 court ruling by Judge Torres, which said XRP is not a security except for some sales to big institutions.
Ripple asked Congress to make the laws clearer and said the SEC’s rules are too vague. They also suggested a ‘maturity’ test to decide when an asset stops being an investment contract.
Regulation still lags: Coinbase faces $400M data breach
Cryptocurrency exchange Coinbase may face a $400 million loss after a big data leak. The leak happened because of its partner company, TaskUs, in India. An employee in Indore was secretly taking photos of her work computer.
She shared private customer data with hackers to get bribes. Coinbase has known about the unauthorised access since January. However, they only told the public in May after they received a threat asking for money.
More than 200 TaskUs workers lost their jobs because of this scandal. The leaked data had names, addresses, partly hidden social security numbers, government IDs, account balances, and past transactions. Coinbase said no passwords or private keys were taken. Customer money is also still safe.
The company is now improving security and working with the police. They plan to pay back customers who were hurt by this. The cleanup may cost between $180 million and $400 million. Coinbase ended ties with the people involved. It also plans to open a new support centre in the U.S. to stop future breaches.
Looking ahead
India’s crypto world is ready to change fast. New trading options like crypto derivatives are becoming popular. These make it easier to use advanced trading methods. Jetking’s Bitcoin purchase shows more businesses are getting interested.
At the same time, Coinbase’s recent removal of some tokens and big data leak show there are still problems. Even though government talks hint at clearer rules soon, the laws are still unclear.
As companies and users adapt, India’s crypto space is set to grow. They will balance new ideas with better safety and clearer rules. As an indirect effect, sites like Stake India could have a wider space for growth as people look for ways to tangibly spend their digital assets.
