India sets September 16 crypto review

• India’s Finance Ministry will face lawmakers on September 16 over the country’s crypto framework.
• Offshore exchanges handled 91.5% of India’s crypto trading volume in FY2024–25.
• The hearing could clarify future rules on crypto taxation and oversight.

India’s Department of Economic Affairs will appear before the Parliamentary Standing Committee on Finance on September 16.

The hearing is scheduled for 11am in Committee Room D at Parliament House Annexe in New Delhi.

About 91.5% of India’s crypto trading volume went to offshore exchanges in FY2024–25, while 8.5% stayed with FIU-registered Indian exchanges.

India introduced a 30% tax on crypto gains and a 1% tax deducted at source on transactions in July 2022.

The Standing Committee has studied virtual digital assets since August 2024, with exchanges, regulators and industry groups appearing before lawmakers.

The committee has also examined who should regulate crypto and how digital assets should be classified under Indian law.

The September 16 hearing will not create a new law, but it could influence India’s future approach to crypto taxation and regulation.