Crypto Debate Resurfaces, Weekly Funding Tanks & More
A Parliamentary Standing Committee on Finance has proposed establishing a self-regulatory organization (SRO) to regulate virtual digital assets (VDAs) in India, addressing a significant regulatory gap. This recommendation aims to provide clearer rules and better investor protection, moving beyond the current focus on taxation, which imposes a 30% tax on crypto gains. However, industry leaders express concerns about the diversity of VDAs and the need for tailored regulatory frameworks for different asset classes.