The Indian Parliament has disclosed that the Enforcement Directorate has seized criminal proceeds worth approximately 41.9 billion rupees (about $465 million) in cryptocurrency cases, arrested 29 people, and filed 22 charge sheets. One defendant has even been declared an economic fugitive. Authorities discovered undeclared income from virtual digital asset (VDA) transactions amounting to 8.8882 billion rupees (about $100 million) during search operations.

Key takeaways With more than 100 million crypto users, India still lacks a comprehensive virtual digital asset (VDA) law. Existing rules address taxation and AML obligations, but they do not fully cover consumer protection or broader market conduct. Issues under discussion include the absence

Organizer: Nona Fear and Greed Index: 56 (Greed) Bitcoin price: $115,047 BTC/ETH Spot ETF Fund Flow (Last Week) BTC Net Inflow: $547.82 M ETH net inflow: $2.85 B Regulation/Macro The Indian tax authorities are engaging in tax policy dialogues with local cryptocurrency industry participants. According to the Economic Times of India, the Central Board of Direct Taxes (CBDT) has communicated with local cryptocurrency industry participants, requesting their feedback on issues such as VDA (Virtual Digital Assets) regulation, outflow of trading volumes, tax framework, loss offsets, the impact of the 30% tax rate, challenges in TDS enforcement, and tax equity between domestic and foreign exchanges. Renmin University of China Law School offers courses on the disposal of virtual currencies involved in cases, stablecoins, and

Story Highlights CBDT is asking platforms to explain how taxes, unclear regulations, and liquidity issues have affected them. It also questioned the questioned the lack of clarity in derivative trading, cross-border transactions, and the definition of a VDA. Clear regulatory framework may offer