1 Essential Blockchain & Web3 Story for Investors
India's blockchain and crypto landscape is evolving rapidly — from retail investment surges to enforcement actions. According to Press Monitor's media monitoring of Indian publications, this press review highlights the defining stories shaping news on blockchain and Web3 today, offering media intelligence on the forces driving digital asset adoption and regulation in India.
1. FQL Crypto Case: Richard Saros Named as Accused
A front-page report in New Indian Express says one Richard Saros from the USA appears as one of three named accused in the FQL cryptocurrency case, alongside K Ranjith and his wife Priyadharshini from Melur in Madurai, with the FIR registered based on a complaint from A Senthilkumar of Thumbaipatti. Separately, a 33-year-old worker named R Madasamy of Meenampatti died in an explosion at a cracker manufacturing unit near Sattur on Saturday, and four persons including three owners—M Jayalakshmi, the sister of Social Justice Minister Vanni Arasu, and her two children M Selvamari and M Muraleeswaran—were booked in connection with the accident, while Chief Minister Vijay announced a solatium of Rs 4 lakh to the bereaved family from the CM's Public Relief Fund.
Why it matters: The Madurai Enforcement and Operations Wing has filed an FIR naming Richard Saros of the United States among the accused in the FQL cryptocurrency case, signaling that Indian regulators are actively pursuing cross-border crypto fraud.
Key detail: Three accused — Richard Saros, K Ranjith, and Priyadharshini of Melur — were named after a complaint by A Senthilkumar of Thumbaipatti. Duped investors have been directed to use the helpline and cybercrime portal for redressal.
Source: New Indian Express, Madurai, 2026-09-06
Next step: Investors in cryptocurrency should verify platform legitimacy through registered exchanges and report suspicious schemes via the cybercrime portal.
2. Crypto SIPs Surpass Rs 51,000 Crore in India
A front-page report in The Hindu says that cryptocurrency Systematic Investment Plans have surged past ₹51,000 crore in India during the 2024–25 period, marking a shift from speculative trading to disciplined, long-term investing. Exchange data from CoinDCX, Mudrex, and CoinSwitch reveals that users aged 26 to 35 and investors from smaller tier-two and tier-three cities are driving this rapid adoption. Despite this retail maturity, regulators including SEBI and the RBI maintain a cautious stance due to the ongoing lack of formal classification for digital assets.
Why it matters: Cryptocurrency Systematic Investment Plans have crossed Rs 51,000 crore during 2024–25, reflecting a decisive shift from speculative trading to disciplined, long-term investing among Indian retail investors.
Key detail: Exchange data from CoinDCX, Mudrex, and CoinSwitch shows that users aged 26 to 35 and investors from tier-two and tier-three cities are the primary drivers. Despite this retail maturity, SEBI and the RBI maintain a cautious stance due to the lack of formal classification for digital assets.
Source: The Hindu, Delhi, by T.C.A. Sharad Raghavan, 2026-09-06
Next step: Financial advisors and wealth managers should track regulatory developments closely as the digital asset classification debate continues at the policy level.
As print media monitoring continues to track India's blockchain ecosystem, the interplay between retail adoption and regulatory caution will define the next phase of news on blockchain and Web3. How will SEBI and the RBI balance innovation with investor protection?
