The Parliamentary Standing Committee on Finance has selected the subject ‘A Study On Virtual Digital Assets (VDAs) and the Way Forward’ for scrutiny during 2024-25. The Committee listed this as item number 3141 in the Lok Sabha Bulletin Part – II that was uploaded on August 14.
This move follows a group of Web3 and digital asset stakeholders submitting a set of recommendations to the Chairperson of the Standing Committee in late July, asking for an innovation-friendly regulation to achieve a $100 billion Web3 economy in 10 years. This group included the likes of Digital South Trust, Bharat Web3 Association, Hashtag Web3, BlockOn Ventures, KoinBX, and CoinDCX.
Relief on the Way for Crypto Exchanges Like CoinDCX?
Sumit Gupta, Co-Founder of CoinDCX supported the Committee’s latest attempt in reviewing cryptocurrency with a post on X (formerly Twitter): “Happy to see that the Parliamentary Standing Committee on Finance has selected Virtual Digital Assets (VDA) as a key topic to study further. This is a good positive development for the sector!”
Neeraj Khandelwal, also Co-Founder of CoinDCX, echoed Gupta’s sentiment. He tweeted, “Good to see the parliamentary committee pick VDA as a topic for detailed study. Like we say in crypto: Slowly, then suddenly! Crypto folks can expect more positive developments in the next 12 months!”
Notably, CoinDCX was at the receiving end of a Rs 368 crore hack in July 2025. Gupta made the announcement about a “sophisticated security breach” that entirely drained an internal operational account used for liquidity provisioning. However, he assured customers that their funds were not impacted.
It is important to note that VDA-related regulatory clarity is directly proportional to increased market confidence. The Standing Committee’s latest move comes as much-needed relief – especially for crypto platforms like CoinDCX – that potentially results in clearer policy frameworks and reduced uncertainties.
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