Saturday, October 24
India’s relationship with virtual digital assets (VDA) has been a rollercoaster. From skepticism to cautious exploration, the narrative has shifted significantly in recent years. As the global virtual digital assets market matures, it’s crucial for India to embrace a well-defined regulatory framework that nurtures innovation while safeguarding the interests of all stakeholders.The Current LandscapeThe Reserve Bank of India (RBI) has historically been cautious about virtual digital assets. In 2018, the central bank imposed a ban that restricted banks and financial institutions from facilitating VDA transactions. However, this decision was overturned in 2020 by the Supreme Court, marking a turning point for the VDA industry in India.In 2022, India introduced a 30% tax on VDA profits and
