Virtual Digital Assets (VDAs) have been around for more than a decade but efforts to put in place an effective regulatory response are accelerating only now. Some nations have taken early and decisive steps on this front. In India, home to over 450+ innovative Web3 startups, regulatory actions are evolving, slowly but with certainty.
Comprehensive and consensus-based VDA regulations have been included as one of the key discussion points in the Finance Track of India’s G20 Presidency.
Over the last six years, CoinSwitch has been at the forefront of engaging with Governments—both at the Centre and States—as well as with regulators to demystify Web3 and VDAs with an intent to make India a home for a vibrant digital assets ecosystem.
This first-of-its-kind compendium, Blockchain, Web3 and Virtual Digital Assets, is our effort to curate questions raised by our Hon’ble. Members of Parliament across both Houses on blockchain technology, VDAs, Web3, and the responses offered by different Ministries, including Finance, IT, Commerce and Industry, during the period 2021-2023. You can download the booklet (PDF) through the link at the bottom to read at your leisure.
This is intended to serve as a ready reckoner for everyone interested in understanding the gamut of issues surrounding this sector and the discussions underway so far in the Parliament. A glossary of key VDA terminology is also available at the end.
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.
Download Now: A compendium of QnAs in Parliament