Based on BitJie, India is conducting a detailed review of its Virtual Digital Assets (VDA) regulatory framework to enhance user security, integrate foreign crypto platforms, and align with G20 global standards. The current system lacks comprehensive legal structure, leaving over 100 million crypto users without clear custody rules, disclosure requirements, or liquidity protections. The proposed changes include investor protection, exchange licensing, bankruptcy protocols, reserve proof mechanisms, and stricter market oversight. Commerce Minister Piyush Goyal emphasized support only for tokens backed by real-world assets, such as CBDCs or tokenized assets, signaling a shift toward a more secure and transparent crypto environment.
India Reviews Virtual Digital Assets Law to Align with G20 Standards
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