From custody standards to stablecoin oversight, India’s VDA review may help shape an investor-focused framework that brings crypto rules closer to global norms.
With more than 100 million crypto users, India still lacks a comprehensive virtual digital asset (VDA) law. Existing rules address taxation and AML obligations, but they do not fully cover consumer protection or broader market conduct.
Issues under discussion include the absence of unified investor-protection rules, unregulated trading practices and concerns that India’s 30% tax plus 1% TDS regime is pushing users to offshore platforms.
Stakeholders are discussing a risk-based VDA framework, licensing requirements for exchanges and custodians, conduct-of-business standards, RWA-specific regulations and improved data and reporting systems.
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