1 month ago
Parliamentary Panel Proposes Crypto Regulatory Framework in India
A parliamentary panel in India has suggested creating a self-regulatory organisation (SRO) to regulate virtual digital assets (VDAs).
This comes as the current policy only imposes a 30% tax on crypto gains without a dedicated framework.
Industry leaders have mixed reactions, with some believing different types of VDAs should be regulated by different bodies.
Meanwhile, Indian startups raised $209 million last week, with manufacturing and SaaS sectors leading.
ShareChat, a social media giant, is preparing for a $400 million IPO next year, focusing on profitability and AI-driven engagement.
VAHDAM, a tea brand, is expanding its presence in India after global success.
ProactAI is developing an indigenous AI stack for surveillance, aiming to reduce dependence on imported tools.
A parliamentary panel proposed creating an SRO to regulate virtual digital assets (VDAs) in India.
Current policy imposes a 30% tax on crypto gains but lacks a dedicated regulatory framework.
Industry leaders suggest different types of VDAs should be regulated by different bodies.
Indian startups raised $209 million last week, with manufacturing and SaaS sectors leading.
ShareChat is preparing for a $400 million IPO next year, focusing on profitability and AI-driven engagement.
VAHDAM is expanding its presence in India after global success.
ProactAI is developing an indigenous AI stack for surveillance, aiming to reduce dependence on imported tools.
- Who
- Parliamentary Standing Committee on Finance, Crypto executives, Industry leaders
- What
- Proposal for a regulatory framework for virtual digital assets (VDAs) in India
- Where
- India
- When
- Current, with future implications
- Why
- To fill the regulatory gap and provide a framework for VDAs, addressing the current uncertainty in the crypto ecosystem
Industry Leaders
Parliamentary Panel
Regulatory Framework
Industry Leaders
VDAs are too varied to fit into one bucket and under one regulator. Tokenised securities should fall under SEBI, payment-linked assets under the RBI, and a dedicated framework should oversee crypto-native assets.
Parliamentary Panel
Proposed creating an interim mechanism to regulate virtual digital assets (VDAs) through an SRO, operating under a designated regulator.
SRO's Powers
Industry Leaders
The SRO’s powers should be limited to audits, setting standards, and grievance redressal, while the regulator retains licensing and enforcement power.
Parliamentary Panel
Proposed an SRO to fill the regulatory gap and provide a framework for VDAs.
Key facts
- Proposed Regulatory Body
- Self-Regulatory Organisation (SRO)
- Current Taxation on Crypto Gains
- 30%
- Most Funded Sector Last Week
- Manufacturing
- Amount Raised by Manufacturing Sector
- $52 Mn
- Second Most Funded Sector
- SaaS
- Amount Raised by SaaS Sector
- $50 Mn
- AI Startups Funding Decline
- 60% week-on-week
- Total New-Age Tech Companies Covered
- 59
- Combined Market Cap of New-Age Tech Companies
- $138.25 Bn
- ShareChat's Revenue in FY26
- ₹1,000 Cr
- ShareChat's Profitability in Q1 FY27
- Reported profitability
- Microdramas Contribution to ShareChat's Revenue
- 25%
- VAHDAM's Revenue Target for FY27
- ₹500 Cr
- VAHDAM's Revenue Target for FY29
- ₹1,000 Cr
- ProactAI's Flagship Product
- Bhaskara
- ProactAI's Accuracy in Person Re-Identification
- 98%
- Global Computer Vision Market Projection by 2030
- $53 Bn
Sources
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