India Panel May Recommend Stricter Crypto Transaction Monitoring

A parliamentary panel in India is preparing to recommend stricter monitoring of cryptocurrency transactions and wider consultations on the legal treatment of digital assets.

The Parliamentary Standing Committee on Finance, led by BJP MP Bhartruhari Mahtab, has spent over a year examining various aspects of Virtual Digital Assets (VDAs), including cryptocurrencies and non-fungible tokens (NFTs).

Among the recommendations being considered are measures for monitoring cryptocurrency transactions, as well as deploying newer technology to strengthen monitoring of digital assets.