Union Minister Jayant Chaudhary, Wife Disclose Over Rs. 43 Lakh in Crypto Assets

Union Minister Jayant Chaudhary and his wife, Charu Singh, have declared cryptocurrency holdings worth Rs. 43 lakh in their latest official asset disclosure. This marks the second consecutive year that the couple has reported virtual digital asset investments in their filings, a rare move among members of the Union Council of Ministers. As of March 31, the disclosure shows Chaudhary declared Rs. 21.3 lakh in crypto assets while Singh reported Rs. 22 lakh, as per the report available on the Prime Minister’s Office (PMO) website. 

Minister’s Crypto Disclosure Highlights Rarity of Political Declarations

The declaration was first reported by The Indian Express, and the crypto holdings are listed under personal savings. Apart from digital assets, Chaudhary declared immovable assets worth Rs. 33.2 crores and movable assets worth Rs. 14.5 crore, while Singh reported immovable assets worth Rs. 2.1 crore and movable assets worth Rs. 9.5 crore. 

In a statement to The Indian Express, Chaudhary described these as continuing investments that have “carried over”. He noted that these investments complement his diverse holdings, which include significant investments in art and cryptocurrency, made up around 2-3 percent of his portfolio at the time of investing. 

This disclosure is significant because very few Indian ministers have reported exposure to digital assets. Earlier in 2024, Congress leader Shashi Tharoor revealed in his Lok Sabha nomination affidavit that he held a Bitcoin ETF valued at Rs. 5.1 lakh. Tharoor’s revelation made him one of the first senior Indian politicians to publicly report an indirect exposure to cryptocurrency investments. 

As lawmakers debate the country’s stand on digital assets, these high-profile acknowledgements suggest that cryptocurrency is quietly creating a space within the country’s financial sector. 

The development comes at a time when cryptocurrency remains unregulated in India, and the Reserve Bank of India has repeatedly issued warnings about the risks of investing in virtual currencies. Under the Prevention of Money Laundering Act, companies must disclose any exposure and transactions in virtual digital assets, as the income from these digital assets is taxable.