Unraveling the Impact of Cryptocurrencies on the Indian Economy
Jyoti Verma, Gagandeep Gagandeep, Anjali Sharma · 2025
Cryptocurrencies, such as Bitcoin, emerged as a decentralized digital form of currency that operates on blockchain technology. In recent years, cryptocurrency has drawn a lot of interest as a digital form of money that uses cryptographic methods to safeguard financial transactions. The rapid growth and increasing popularity of cryptocurrencies worldwide underscore the need to understand their implications for the Indian economy. This chapter aims to unravel the impact of cryptocurrencies on the Indian economy using a Political, Economic, Social, Technological, Legal, and Environmental (PESTLE) approach. A comprehensive analysis of the various PESTLE factors has been done to assess how cryptocurrencies influence different aspects of the Indian economy. By conducting a comprehensive PESTLE analysis, this chapter provides a holistic understanding of the impact of cryptocurrencies on the Indian economy, enabling policymakers, researchers, and stakeholders to make informed decisions and develop appropriate strategies to navigate this evolving landscape.