CRYPTOCURRENCY AND CRIMINAL LAW: CAN INDIA'S EXISTING LEGAL FRAMEWORK HANDLE CRYPTO FRAUDS?

Over the last decade, the adoption of cryptocurrency in India has significantly increased, which has resulted in a surge in crypto-related fraud and financial crime. According to the Global Crypto Adoption Index of 2025 conducted by Chainalysis, India now ranks first globally, yet its legal framework, which was enacted before the digital asset era, has struggled to keep up the pace with this rapid increase in cryptocurrency fraud. This article aims to examine whether the existing laws, including the Bharatiya Nyaya Sanhita (BNS), 2023, the Information Technology Act (IT), 2000, and the Prevention of Money Laundering Act (PMLA), 2002, are adequate to address crypto fraud, thereby identifying key gaps and suggesting the need for a regulatory and legislative framework that specifically deals with crypto-related frauds.