Parliamentary panel may recommend tighter scrutiny over crypto transactions, legal steps for digital assets

A parliamentary panel may recommend measures to monitor cryptocurrency transactions, including the use of the latest technology for stricter monitoring of digital assets, as well as legal steps concerning such assets, a source aware of the matter said.

The Parliamentary Standing Committee on Finance, headed by BJP MP Bhartruhari Mahtab, has examined various aspects of Virtual Digital Assets (VDAs), a legal term for cryptocurrencies and non-fungible tokens (NFTs), for over a year and held more than half a dozen meetings.