For many years, crypto felt like a risky experiment. Prices moved fast, scams were common, and governments were unsure how to respond. Today, that trend is slowing down. Around the world, regulators are paying closer attention, banks are getting involved, and crypto is starting to become a part of the financial system.
As countries move to regulate digital assets, a key question is emerging; What does crypto look like once the chaos fades?
For Shyam Natekar, a crypto and fintech professional based in India, where crypto adoption is steadily rising, the future of crypto will depend less on hype and more on real use, clear rules, and trust. “Scams will still happen, but they will be tougher to pull off because of regulation and awareness,” he said in an interview with Techloy.
From a Wild Market to a More Serious Industry
In its early years, crypto grew fast but without much structure. New tokens launched almost daily and many users entered the market without fully understanding the risks. Governments, unsure how to respond, mostly stayed away.
That is now changing.
At the same time, attention is moving away from short term gains. Instead, companies and users are focusing on how crypto can be used in real life. Payments, moving money across borders, tokenizing real world assets, and on-chain finance are becoming more important than price speculation.
Over the next five to ten years, Shyam expects crypto to become more closely connected to the traditional financial system. “Banks, payment systems, and the financial world will probably bring crypto in instead of fighting it,” Shyam said.
Why Governments Are Stepping In
As crypto grows, governments are stepping in to create rules. For some users, this has raised fears that regulation could slow innovation. But Shyam said clear rules often have the opposite effect. “That way, serious people can build things and investors can invest without always worrying that everything will suddenly be illegal.”
When companies know what is allowed, they can plan for the long term. Investors feel safer. Serious players are more willing to enter the market. Regulation, when done clearly, can help crypto grow in a more stable way.
Different countries are taking different paths. Some are strict, some are open, and others are still deciding. Shyam points to the European Union and Singapore as examples where clarity has helped. “They have made it clear what is allowed, how to get licensed, and how to operate,” he said.
These approaches show that regulation does not have to mean rejection. It can also be a way to support responsible growth.
India’s Cautious Position
India’s relationship with crypto has been more complicated. The country has strong technical talent and a large digital population, but policy has remained cautious.
High taxes on crypto transactions, including a 30 percent tax and a 1 percent TDS, have made trading and investing difficult. Users are also not allowed to offset losses. As a result, some activities have moved to foreign platforms.
“I think India is being really careful about crypto, maybe too careful. The 30% tax and 1% TDS, without letting you make up for losses, doesn't seem right. It feels like it's trying to scare people away instead of regulating,” Shyam said.
There are signs that the situation may evolve. The government appears to be studying crypto more closely. But Shyam says learning is not enough. “ Crypto needs everyone to work together – the people making rules, the builders, and the users,” he said.
For now, India remains in the middle. It has not banned crypto, but it has not fully supported it either. This uncertainty makes it harder for companies to plan and for the market to grow.
How Rules Can Build Trust
Trust has always been one of crypto’s biggest problems. Many people still see it as unsafe or confusing.
Clear rules can help change that. “If people know an exchange is licensed, how taxes work, and what is allowed, they feel more confident,” Shyam said.
Regulation can help separate serious projects from risky ones. It can also give users basic protections without stopping innovation. Shyam believes regulators should focus on how crypto is used, not on blocking the technology itself. “Things like knowing your customer, stopping money laundering, custody, audits, and telling people what's going on should be strict, but still let people come up with new things,” Shyam explained.
Rules around identity checks, custody of funds, audits, and transparency can reduce harm while still allowing new ideas to grow.
In the future, crypto may become less visible to users. People may not think about blockchains or tokens at all. They will simply use apps that are faster and cheaper.
Payments, savings, investing, and cross-border transfers may run on crypto systems in the background. Stablecoins and tokenized assets could become part of daily life without users noticing.
Crypto is unlikely to replace banks completely. Instead, the two are beginning to work together. Banks bring trust and scale. Crypto brings speed and efficiency.
As regulation spreads and real use grows, crypto is moving into a new phase. It is no longer defined by chaos or rebellion. It is being shaped by rules, cooperation, and practical value.
The next few years will matter. This time, crypto is no longer operating on the edges. It is stepping into the system.
David Adubiina
