🇮🇳 INDIA JUST TOOK ANOTHER STEP TOWARD CRYPTO REGULATION. After years of uncertainty... A Parliamentary Finance Committee has recommended an interim regulatory framework for crypto instead of waiting for a full-fledged law. Here's what it proposed: • Recognized Self-Regulatory Organizations (SROs) to oversee the crypto industry under the supervision of a designated regulator. • Clear legal definitions for different types of Virtual Digital Assets (VDAs), since not all crypto assets should be treated the same. • Minimum standards for governance, transparency, disclosures, investor protection, grievance redressal and compliance. The committee also wants the government to clarify whether: • Crypto investment products. • Tokenized securities. • Exchanges offering tokenized assets. will fall under future securities regulations. At the same time, the report acknowledges that crypto remains largely unregulated in India today, apart from taxation, anti-money laundering rules and reporting requirements. The committee stopped short of recommending crypto be included under the proposed Securities Markets Code for now... saying broader consultation between regulators and the government is still needed. The takeaway: India isn't rushing into a comprehensive crypto law. But policymakers are clearly moving toward regulated oversight rather than leaving the industry in a legal grey area.