Parliament to Delve into Virtual Digital Assets Regulation

The Standing Committee on Finance will meet on July 2, 2026, to address regulatory guidelines for Virtual Digital Assets. The sessions will feature discussions with RBI and ICAI, focusing on financial stability, regulatory framework, and taxation. Insights gathered could guide future legislation on VDAs in India.

On July 2, 2026, the Standing Committee on Finance is set to convene to explore the regulatory framework for Virtual Digital Assets (VDAs). The committee, gathering at the Parliament House Annexe in New Delhi, will dedicate the day to examining VDAs, dividing the meeting into three distinct sessions.

The first session, from 11:00 a.m. to 12:30 p.m., will involve oral testimonies from Reserve Bank of India (RBI) representatives. They are expected to outline the central bank's perspectives on the risks VDAs pose to financial stability, their implications on monetary policy, concerns surrounding money laundering, investor protection, and the necessity for a regulatory model. Historically, the RBI has advised against private cryptocurrencies while advocating for a central bank digital currency.

Following this, from 12:30 p.m. to 1:30 p.m., the committee will engage with officials from the Institute of Chartered Accountants of India (ICAI). The discussions are likely to delve into the taxation of VDAs, audit hurdles, and the standards for financial disclosures related to digital asset dealings. Post-lunch at 2:00 p.m., internal discussions will ensue where the committee will evaluate the insights provided by RBI and ICAI, discussing potential strategies for India's VDA landscape.