Abstract

Cryptocurrency and blockchain technology emerged as transformative forces in the global economy during the early decades of the twenty-first century. In India between 2018 and 2025 their influence expanded significantly sparking debates across financial regulatory and social domains. Cryptocurrencies such as Bitcoin Ethereum and locally traded tokens became increasingly popular among Indian investors while blockchain technology found applications in supply chain management banking healthcare governance and education. This period was marked by a paradox: the Indian government remained cautious even banning cryptocurrencies temporarily in 2018 while simultaneously encouraging blockchain adoption in sectors such as digital governance and financial services. By 2025 India stood at a crossroads where the promise of financial inclusion transparency and innovation was weighed against concerns about regulation security and monetary stability. This paper examines the multifaceted impact of cryp