India’s Web3 Engine: How Sharp Lawyering & Grass-Roots DAOs Keep Crypto Booming
- Sanad Karkar
- May 28
- 3 min read
Updated: 6 days ago
India now ranks #1 on Chainalysis’ Global Crypto Adoption Index—two years straight— even while levying one of the world’s toughest crypto tax regimes. How do builders thrive under a 30% gains tax and a 1% TDS on every transfer? To find out, we invited Dhrupad Das, a 15-year litigator turned Web3 counsel and co-founder of multiple DAOs, to Mooncast. From courtrooms in Delhi to nature photo shoots in Assam, Dhrupad’s journey offers a front-row look at India’s unique blend of regulation, innovation, and community-led growth.
▶️ Watch the Full Interview on YouTube
Before we unpack the biggest takeaways, catch the full episode on YouTube. Whether you’re eyeing India as a market, worried about that 30% tax bite, or curious about DAO structures that actually work, this conversation is a must-watch.
Key Highlights from the Conversation
Litigator to Web3 Builder: The “Bull** Detector” Advantage**
After fighting telecom and competition cases for over a decade, Dhrupad built Panda Law around a simple GRID framework—Governance, Regulatory, IP, Disputes. Court-honed cross-examination skills now help him slice through Web3 hype and spot weak compliance in minutes.
“Litigation is an intellectual blood sport—great training for detecting crypto nonsense.” – Dhrupad
Why India Isn’t “Unregulated” (and Why the 30% Tax Hurts Anyway)
Contrary to popular belief, crypto already triggers India’s legacy regimes: income tax, GST, company law, AML, and foreign-exchange rules. What’s missing is a dedicated VDA regulator—leaving founders in limbo and pushing many to Dubai, Singapore, or soon-to-launch Bhutan Mindfulness City.
DAO Playbooks: Commons Thinking Meets Indian Law
Dhrupad argues that DAOs resemble India’s historic “commons” and can map onto an Association of Persons / Body of Individuals (AOP/BOI)—if lawmakers add limited-liability language. Until then, most projects use offshore DAO LLCs plus an Indian DevCo.
Compliance tip: pair on-chain voting with off-chain operating agreements and clear IP assignments to keep investors—and tax officers—happy.
Real-World Asset Tokenization: When a Token Isn’t a VDA
Tokenizing land titles or invoices can fall outside India’s “virtual digital asset” label if backed by an enforceable contract and a physical asset. Done right, the token is treated as a voucher rather than a taxable VDA—opening doors for supply-chain and real-estate pilots in Telangana, Assam, and Gujarat’s GIFT City.
Banking Thaw & The Path to Sandboxes
Major banks that once refused crypto clients are quietly reopening their doors. States like Karnataka and Gujarat already host fintech sandboxes; Dhrupad predicts the first dedicated Web3 sandbox will land in an SEZ such as GIFT City—with a multi-regulator board mirroring Dubai’s VARA model.
Founder Mantra: “If You Think Compliance Is Expensive, Try Non-Compliance.”
From seven-figure GST fines in India’s gaming sector to sudden tax demands, Dhrupad’s advice is blunt: structure early, document everything, and budget for professional help.
Final Thoughts
India’s crypto scene is a paradox: punishing taxes and no bespoke regulator—yet the largest on-chain user base on the planet. Dhrupad Das shows that clear legal thinking, community-driven DAOs, and relentless engagement with policymakers are turning that paradox into opportunity. If you plan to build—or invest—in India, his GRID approach and commons-inspired DAO models are essential reading.
Ready for the Full Scoop?
📺 Watch the episode on YouTube
🎧 Prefer audio? Listen on Spotify and catch every detail on India’s evolving Web3 playbook.
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