Crypto Regulation: Parliamentary Panel To Meet RBI, ICAI Representatives On July 2

Cryptocurrency continues to remain a key area of discussion in India, as policymakers assess the future of the digital asset ecosystem. As part of these ongoing discussions, the Parliamentary Standing Committee on Finance will convene a meeting on virtual digital assets (VDAs) in early July 2026.

The Parliamentary Standing Committee on Finance is scheduled to hear the views of representatives from the Reserve Bank of India (RBI) on the subject, A Study on Virtual Digital Assets (VDAs) and Way Forward. The committee will also interact with representatives of the Institute of Chartered Accountants of India (ICAI) as part of the same exercise, according to a report by Moneycontrol.

In the previous meeting held on May 20, 2026, the Parliamentary Standing Committee on Finance recorded oral evidence from representatives of ZebPay, Binance and WazirX. The committee also heard submissions from officials of the Ministry of Finance (Department of Revenue) and the Ministry of Corporate Affairs on the same topic.

Incidentally, members of the Parliamentary Standing Committee on Finance also raised concerns over the existing taxation framework which includes the 30 per cent on crypto gains in the absence of a formal regulatory structure.

This comes at a time when the Reserve Bank of India (RBI) has consistently maintained a cautious stance on private digital currencies and has repeatedly advised caution while dealing with such assets.

The RBI has not recognised private cryptocurrencies as legal tender. At the same time, the central bank is working on its own Central Bank Digital Currency (CBDC), the Digital Rupee (e₹) while crypto-related activities in the country continue under existing tax and compliance frameworks.

In India, cryptocurrency is not recognised as legal tender and income from VDAs is currently taxed at a flat 30 per cent on gains with a 1 per cent TDS on transactions above specified thresholds.