India's finance committee reviews cryptocurrencies and NFTs amid AML concerns
India's top finance committee is digging into how the country should handle cryptocurrencies and NFTs.
With the government worried about risks and money laundering, there's talk of using smarter tech to keep an eye on digital assets.
This review comes as officials warn people about crypto risks and crack down on Virtual Digital Asset Service Providers not following anti-money laundering laws.
Committee to present digital asset recommendations
The committee, led by Bharatiya Janata Party MP Bhartruhari Mahtab, has spent more than a year studying virtual digital assets.
Soon, they'll share their recommendations with Parliament: expect calls for tighter monitoring and wider consultations on how digital assets should be dealt with legally.
For now, India doesn't have a full set of rules for crypto, so international teamwork is also on the table to tackle cross-border issues.