India’s long-awaited cryptocurrency report is set to be presented during the upcoming Monsoon Session of Parliament, marking a key step in regulating Virtual Digital Assets (VDAs). The Parliamentary Standing Committee on Finance prepared the report after months of discussions with crypto exchanges, government agencies, tax officials, and financial regulators.
The committee also looked into concerns about large sums of money leaving the country through crypto transactions. Before finalizing its recommendations, the panel will meet with the Department of Economic Affairs on July 15, which will be the last stage of a study that could influence India’s future crypto policy.
The report, called “A Study on Virtual Digital Assets (VDAs) and Way Forward,” is expected to recommend how India should handle cryptocurrencies after years of uncertainty. Although the government has taxed crypto transactions, it has not yet created a full legal framework for the industry. The committee’s findings could become a key reference for future laws.
The study took place during 2024-25, led by BJP MP Bhartruhari Mahtab. Over several months, the committee listened to presentations from top domestic and international crypto exchanges like Binance, WazirX, ZebPay, CoinDCX, CoinSwitch, and Coinbase. Officials from the Financial Intelligence Unit (FIU), Central Board of Direct Taxes (CBDT), Department of Revenue, and Ministry of Corporate Affairs also gave their input.
A key committee meeting on May 20 revealed that crypto transactions were causing thousands of crores to move out of India. This issue has been central to the panel’s discussions and is likely to shape its recommendations on oversight and compliance.
Another important moment came in early July when the Reserve Bank of India (RBI) spoke directly to the committee. The RBI has often raised concerns about private cryptocurrencies, so its input is especially important as lawmakers consider different regulatory options.
The committee will meet with the Department of Economic Affairs on July 15 before finalizing its recommendations. Once the report is submitted to Parliament, it could give the clearest sign yet of whether India will create a dedicated regulatory framework for digital assets or stick with its current approach.
India’s fast-growing crypto industry sees this report as a possible turning point. Investors, exchanges, and blockchain companies will be watching for updates on taxes, consumer protection, compliance rules, and the government’s long-term plans for the sector.
India’s crypto report is finally headed to Parliament
→ Parliamentary Finance Committee tables its VDA study this Monsoon Session
→ Months of hearings: Binance, WazirX, CoinDCX, CoinSwitch, Coinbase + FIU, CBDT, Revenue Dept all testified
→ One step left: DEA testimony on…— 3.0 TV (3verseTV) (@reallive3tv) July 6, 2026
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment