India may change its hardline cryptocurrency policy... Regulatory review possible as cryptocurrency becomes more widespread internationally

The Indian government has maintained a hard-line stance on cryptocurrencies, but speculation has been raised that regulatory changes in the United States could prompt a policy shift.
On the 2nd (local time), the Indian government, which has been strongly opposed to cryptocurrencies until now, recently announced that it would reexamine its regulatory policies in response to other countries' moves to adopt them.
According to Reuters, Indian Secretary of State for Economic Affairs Ajay Seth said, "Digital assets know no borders," and warned that India is being left behind in the digital asset revolution.
The potential for such a policy change comes as the Indian government recently announced plans to impose taxes of up to 70% on undeclared cryptocurrency income.
The government’s change in stance is in line with “inter-nation game theory” advocated by pro-cryptocurrency analysts and Bitcoin maximalists.
According to this theory, as some countries introduce cryptocurrencies, other countries will compete to accumulate digital assets.
In an interview with Cointelegraph, Kumar Gupta, a legal expert at the Indian Supreme Court, said, "The Indian government views cryptocurrencies as worse than gambling. The government's position is
The point is that cryptocurrencies are only used for illegal activities like money laundering and terrorist financing. Therefore, we do not use them and will not allow anyone to use them.
I guess so," he said.