India's Cryptocurrency Committee Eyes Better Monitoring Measures

The Standing Committee on Finance in India's Parliament is preparing a report that may recommend additional measures for better transparency and monitoring of cryptocurrency.

The committee, led by BJP lawmaker Bhartruhari Mahtab, has held eight meetings since September last year to discuss Virtual Digital Assets (VDAs), which include cryptocurrencies and non-fungible tokens (NFTs).

According to data from the Financial Intelligence Unit-India, there were 36 million KYC-verified accounts or users with registered VASPs at the end of April 2025, with estimated crypto holdings of approximately ₹34,000 crore.

The committee may ask the government to bring in better technology to track crypto transactions and build more blockchain capacity to strengthen surveillance.