Virtual Digital Assets (VDAs), or cryptoassets, are making significant business and regulatory strides globally. Their inclusion in the Finance Track of G20 discussions during India’s G20 Presidency emphasized the need for a unified regulatory approach. This led to progress in many G20 countries, especially in areas like anti-money laundering, countering financing of terrorism, and consumer protection. In India, home to over 1,000 Web3 startups, regulatory conversations are evolving, with a Discussion Paper on VDA regulations expected soon.
At CoinSwitch, we have been at the forefront of engaging with Governments — both at the Centre and States — as well as with regulators, to demystify Web3 and VDAs, build awareness and understanding, understand regulatory concerns, and work towards building a strong regulatory framework for VDAs in India.
Our first-of-its-kind Parliamentary Q&As compendium on Blockchain, Web3 and VDAs, released in Q2 2023 was our effort to curate questions raised by Hon. Members of Parliament across both Houses on blockchain technology, VDAs, Web3, and the responses received from different Ministries, including Finance, IT, Commerce and Industry, during the period 2021-2023. This second edition of the booklet continues from where we left off and captures the most recent discussions in Parliament on this important sector.
We thank the Lok Sabha and Rajya Sabha Secretariats for making available these Q&As via their websites, from where we were able to access and source them. We would also like to thank our Hon’ble. MPs, Ministers, and officials of the Government of India, who continue to engage with us and raise pertinent issues both inside and outside Parliament.
Happy reading!
Download: A compendium of QnAs in Parliament
