A key parliamentary standing committee on finance held detailed consultations with leading cryptocurrency exchanges including ZebPay, Binance, and WazirX, signaling that a major policy decision on virtual digital assets (VDAs) could be on the horizon.

The meeting, which also saw participation from senior Finance Ministry officials, focused on assessing the current regulatory landscape and identifying gaps in oversight. Industry stakeholders made presentations on the evolving crypto ecosystem, outlining challenges related to compliance, innovation, and global competitiveness.

Sources indicate that discussions revolved heavily around taxation clarity, investor protection mechanisms, and the need for a balanced regulatory framework that does not stifle technological growth. Concerns were also raised over high tax burdens and lack of policy certainty, which industry players argue have impacted trading volumes and driven activity offshore.

The committee is understood to be evaluating multiple approaches, ranging from stricter regulatory supervision to a more facilitative regime aimed at encouraging domestic innovation while safeguarding consumers.

With growing global momentum toward crypto regulation, India’s next move is being closely watched by both investors and industry stakeholders.