This marked a rare instance of members of the Union Council of Ministers declaring investments in virtual digital assets, reported The Indian Express (IE).
As per the documents published on the Prime Minister’s Office (PMO) website, Chaudhary who is the Minister of State (MoS) (Independent Charge) for Skill Development & Entrepreneurship, disclosed investments worth ₹21.31 lakh in cryptocurrency as on March 31, 2025.
His wife, Charu Singh, declared crypto holdings of ₹22.41 lakh. Both cited “personal savings” as the source of the funds, but did not reveal the specific names of the digital currencies held.
In their earlier filing from June 2024, Chaudhary and Singh had declared crypto investments of ₹17.9 lakh and ₹19 lakh, respectively. These holdings have since grown by 19% and 18%, as per IE.
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Responding to queries from the IE, Chaudhary described these as continuing investments that have “carried over.”
“At the time of investment it was… 2-3% of my portfolio as highly speculative… Also fits my wide range in portfolio with large investment in art as well,” he said.
Apart from digital assets, Chaudhary, who is also the National President of the Rashtriya Lok Dal (RLD) and a Rajya Sabha member, declared immovable assets valued at ₹33.23 crore and movable assets worth ₹14.51 crore.
Charu Singh reported immovable assets of ₹2.15 crore and movable properties of ₹9.54 crore, as per IE.
Crypto regulation in India
Unlike traditional assets such as land, shares, or deposits, cryptocurrency remains outside regulatory oversight in India. The Reserve Bank of India (RBI) has issued repeated warnings to investors regarding the risks associated with virtual currencies.
During the Monsoon Session of Parliament, MoS for Finance Pankaj Chaudhary the Lok Sabha that the government does not maintain data on cryptocurrency.
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“Crypto assets are unregulated in India and the government does not collect data on these assets,” he stated in a written reply on July 28, 2025.
He added that the income from such assets is taxable, companies are required to disclose crypto exposure, and transactions in virtual digital assets fall under the Prevention of Money Laundering Act (PMLA) since March 2023.
