According to CoinMeta, the Standing Committee on Finance of the Indian Parliament has scheduled a hearing on the regulation of virtual digital assets for September 16th, and the Ministry of Economic Affairs will testify on this matter. Currently, cryptocurrencies are not considered legal tender in India; investment gains are taxed at a rate of 30%, with an additional 1% withholding tax at the source. As of mid-2026, 54 virtual digital asset service providers have registered with financial intelligence agencies, including CoinDCX, CoinSwitch, Binance, Coinbase, etc. Approximately 91.5% of India's crypto transactions flow to offshore platforms. The committee has also heard the opinions of the Reserve Bank of India and the Institute of Chartered Accountants of India.