India's top finance committee meets Binance WazirX Zebpay on VDAs
India's top finance committee just sat down with big crypto players like Binance, WazirX, and Zebpay in Delhi to talk about how virtual digital assets (VDAs) should be regulated and taxed.
Senior government officials and even some Singapore-based firms joined the conversation, which focused on finding a better way to handle the fast-growing crypto scene.
Exchanges decry 30% tax 1% TDS
Committee Chairman Bhartruhari Mahtab pointed out that a lot of money is leaving India for crypto investments, so he called for stronger rules, drawing on examples from places like the US and China.
Crypto exchanges pushed for clearer policies and fairer taxes, saying India's current 30% tax plus 1% TDS on every transaction makes things tough for investors.
The talks also covered protecting users from scams and making sure Indian companies can compete globally.