The Standing Committee on Finance will hold a meeting on the regulatory roadmap for Virtual Digital Assets (VDA) on July 2. This will include discussions with representatives from RBI and ICAI to formulate recommendations on the way forward for India’s VDA ecosystem.
New Delhi [भारत]July 2 (ANI): According to a notice issued by the Lok Sabha Secretariat on June 25, 2026, the Standing Committee on Finance will hold its next meeting on Thursday, July 2 to study the regulatory roadmap for Virtual Digital Assets (VDAs). This meeting will be held in Parliament House Annexe, New Delhi.
The meeting is entirely dedicated to the theme ‘A Study and the Way Forward on Virtual Digital Assets (VDAs)’ and is divided into three sessions.
Three main sessions of the meeting
Discussion with RBI
From 11:00 am to 12:30 pm, the committee will record oral evidence from representatives of the Reserve Bank of India (RBI). RBI officials are expected to present the central bank’s assessment on VDA, covering issues such as risks to financial stability, impact on monetary policy, money laundering concerns, investor protection and the need for a regulatory framework. The RBI has previously warned against private cryptocurrencies, while supporting central bank digital currencies.
Discussions with ICAI
The second session will run from 12:30 pm to 1:30 pm, in which there will be a discussion with representatives of the Institute of Chartered Accountants of India (ICAI). ICAI is likely to share inputs on VDA taxation, accounting standards for crypto holdings, audit challenges and disclosure norms for companies and individuals dealing in digital assets. The institute is working on a guidance note for VDA transactions since the introduction of 30% tax and 1% TDS in 2022.
internal brainstorming of the committee
After lunch, the committee will meet again for internal deliberations from 2:00 pm onwards. During this closed-door session, members will discuss the statements made by RBI and ICAI and examine possible recommendations on the way forward for India’s VDA ecosystem.
Other details related to the meeting
The notice issued by Bharti Sanjeev Tuteja, Director, said that the agenda papers will be circulated to the members later through the member portal and e-mail. Members have been requested to ensure facility to attend the meeting.
The Standing Committee on Finance examines the laws and policies related to the Ministry of Finance, RBI, SEBI, banks, insurance and taxation. Unlike the Public Accounts Committee, which audits past expenditures, this committee considers current policy issues and future frameworks.
VDAs in India are currently taxed at 30% on profits and 1% TDS on transfers, but there is no comprehensive law governing trading, exchanges or investor protection. The meeting on July 2 signals Parliament’s intention to seek expert input before shaping a potential regulatory or legislative response to crypto assets. (ANI)
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