In the Lok Sabha, while debating the Finance Bill, Opposition members on Friday stressed the need for a legal framework to regulate virtual digital assets such as cryptocurrencies that can be misused to finance terror and narcotics smuggling.
Opening the debate, Congress member Gaurav Gogoi said the government was sending mixed signals on virtual digital assets and demanded clarity on the definition of crypto.
“I expect the policy to come out sooner than later... crypto is a risk at the moment,” Mr. Gogoi said, noting that virtual digital assets should not become a preferred route for money laundering, drug smuggling or crime.
