The US is pushing clearer crypto regulation, while India faces renewed pressure to close its VDA policy gap. On August 19, President Donald Trump urged Congress to advance the stalled Digital Asset Market Clarity Act at a White House meeting with crypto executives.
The bill could divide oversight between the SEC and CFTC while creating clearer rules for digital assets.
The US Senate still needs to act, with a procedural vote expected on September 15. India’s finance panel recently recommended a statutory framework for virtual digital assets, alongside supervised self-regulation as an interim step.
The US bill aims to clarify which digital assets fall under securities or commodities rules. It could also establish clearer responsibilities for exchanges and other crypto intermediaries.
The development gives Indian policymakers a reference point as global markets seek stronger crypto rules. CoinSwitch cofounder Ashish Singhal said clearer US rules could support greater institutional participation.
“US approach offers timely learnings on balancing consumer protection, anti-money laundering compliance and tax clarity,” Singhal said.
India currently taxes VDA transfers at 30% and applies 1% TDS under existing tax rules. Crypto-related entities also face anti-money laundering requirements.
However, India still lacks a comprehensive law covering crypto issuance, trading, intermediaries and investor protection. The parliamentary panel warned that regulatory uncertainty could increase fraud and market manipulation risks.
Mudrex CEO Edul Patel said the US framework could offer Indian regulators a useful reference architecture. India’s panel has already proposed an SRO model covering disclosures, governance and grievance redress.
India therefore appears more likely to move gradually than copy Washington’s approach. The next major signal could come from the US Senate vote and India’s separate VDA study.
Also Read: India’s Crypto Users Hold $2.1B Under RBI Watch, Tightening Crypto Rules
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