Union Minister Jayant Chaudhary, wife declare Rs 43.7 lakh in crypto holdings for second year

Union Minister Jayant Chaudhary and his wife Charu Singh have once again declared cryptocurrency holdings in their official asset disclosures, marking the second consecutive year that members of the Union Council of Ministers have reported investments in virtual digital assets. The disclosure, published on the Prime Minister’s Office (PMO) website, highlights a rare instance of top government representatives openly acknowledging exposure to crypto, an asset class that remains unregulated in India.

According to the declarations, Chaudhary—Minister of State (Independent Charge) for Skill Development and Entrepreneurship, as well as National President of the Rashtriya Lok Dal (RLD)—reported crypto investments valued at Rs 21.31 lakh as of March 31, 2025. His wife, Charu Singh, disclosed digital asset holdings worth Rs 22.41 lakh. Both listed “personal savings” as the source of funds but did not specify which cryptocurrencies they own.

This represents a notable increase from their June 2024 disclosures, when Chaudhary had declared Rs 17.9 lakh in crypto and Singh Rs 19 lakh. In less than a year, their holdings have grown by 19 percent and 18 percent respectively, reflecting broader market movements. Speaking to The Indian Express, Chaudhary described these as continuing investments that “carried over” from earlier years. “At the time of investment, it was 2-3% of my portfolio as a highly speculative asset,” he said, adding that crypto sits alongside his wide-ranging portfolio, which also includes significant investments in art.

Beyond digital currencies, Chaudhary’s latest filing revealed immovable assets worth Rs 33.23 crore and movable assets valued at Rs 14.51 crore. Singh declared immovable properties of ₹2.15 crore and movable assets amounting to Rs 9.54 crore.

Crypto regulation in India

While traditional investments like land, shares, or deposits operate under strict oversight, cryptocurrency in India continues to exist in a regulatory grey zone. The Reserve Bank of India (RBI) has repeatedly warned investors about the risks of virtual currencies, including volatility and fraud.

During the Monsoon Session of Parliament in July 2025, Minister of State for Finance Pankaj Chaudhary clarified in a written reply that “crypto assets are unregulated in India and the government does not collect data on these assets.” However, he emphasized that income generated from digital assets is taxable. Companies must disclose crypto exposures, and since March 2023, transactions involving virtual digital assets fall under the Prevention of Money Laundering Act (PMLA).

Investor sentiment and taxation challenges

Taxation remains a major sticking point for Indian crypto investors. A recent survey by investment platform Mudrex, which polled more than 9,000 participants across demographics, found that 84 percent of respondents view the current tax structure as unfair when compared to other asset classes. The flat 30 percent tax on gains was cited by 66 percent as the biggest barrier to investing. Other concerns included the inability to offset losses (12 percent), fraudulent activity (12 percent), the 1 percent tax deducted at source (7 percent), and high exchange fees (3 percent).

Despite these hurdles, optimism about crypto’s long-term potential persists. Nearly 90 percent of respondents said they would increase their investments if government policies became clearer or if taxes were reduced. Strikingly, 64 percent now view crypto primarily as a long-term wealth-building tool rather than a vehicle for quick profits. Curiosity, short-term speculation, and inflation hedging were also noted as secondary motivations.

The declarations by Jayant Chaudhary and Charu Singh bring crypto investments squarely into the mainstream political conversation in India. At a time when regulation is still being shaped, their disclosures underline both the rising acceptance of digital assets and the pressing need for a clearer policy framework.