India’s Parliamentary Standing Committee on Finance is stepping up consultations on regulating virtual digital assets (VDAs), with the panel set to meet officials from the Reserve Bank of India (RBI) to discuss the future regulatory framework for cryptocurrencies.
The meeting, scheduled for July 2 in Delhi, marks the committee’s latest engagement with key stakeholders as the government intensifies deliberations on shaping India’s crypto policy.
As per the notice, the committee will be deliberating on the “oral evidence of the representatives of the Reserve Bank of India (RBI) on the subject – A Study on Virtual Digital Assets (VDAs) and Way Forward”.
Following this meeting, the committee is also engaging with the Institute of Chartered Accountants of India (ICAI) on the same topic, likely discussing crypto taxation norms.
This marks a critical point for the ongoing discussions on cryptocurrencies with the regulators, as RBI has historically had a cautious stance towards digital assets. The RBI governors over the years have repeatedly warned against the loopholes of the VDA ecosystem and its impact on the banking system.
In November 2025, RBI governor Sanjay Malhotra had said, “Stablecoins, cryptos, they have a huge risk, and so we are adopting a very cautious approach towards it.” The central bank, however, continues remain supportive of UPI, digital payments and digital lending.
This will be the eighth meeting with the industry stakeholders. In the previous two meetings, the standing committee had met various domestic and global crypto exchanges operating in India to understand their concerns and suggestions.
On May 20, the panel met crypto exchanges Binance, WazirX and Zebpay in Delhi to discuss scope of regulations, way ahead for VDA industry and taxation.
Prior to that, in December 2025, there was a meeting with the representatives from CoinDCX, CoinSwitch and Coinbase. The regulators had queried regarding concerns around peer-to-peer (P2P) transactions, issues with international transactions, remittances, bringing foreign and Indian crypto exchanges under same policy and legal framework, and the problems with the existing GST mechanism for global exchanges.
