India, with a staggering 100 million crypto users, has embarked on a comprehensive evaluation of its entire VDA (Virtual Digital Asset) regulatory framework. The government’s objective is to implement stricter investor protections, establish clear licensing requirements for exchanges and custodians, and set transparent standards for reserves, custody, and insolvency. The review also encompasses oversight of stablecoins and RWAs, with a reconsideration of the current 30% tax and 1% TDS policies. As India progresses towards more defined crypto regulations, enhanced reporting and market surveillance measures are expected to be put in place.
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