Virtual digital assets 🔆 Key Takeaways: Regulating India’s Virtual Digital Assets (VDA) ✅ India leads in crypto adoption, with retail investors pouring $6.6 billion and predicting 8 lakh jobs by 2030. ✅ Regulatory challenges persist due to gaps between VDA reality and policy. ✅ Two key tax measures introduced: 1% TDS on transactions above ₹10,000 and 30% capital gains tax, with limited offsetting allowed. ✅ Industry reports show Indians traded over ₹1.03 trillion on non-compliant platforms, causing ₹2,488 crore in lost tax revenue. ✅ Virtual Asset Service Providers (VASPs) are crucial for bridging regulators and market players, showing readiness to comply with regulations. ✅ FATF praised India’s anti-money laundering and counter-terror financing efforts post a $230 million crypto hack in 2024. ✅ Calls for a balanced, pragmatic, and future-proof regulatory framework to support a safer digital asset ecosystem and mitigate risks. #cryptoregulation #digitalassets #vasps #indiacrypto