Virtual digital assets: it’s time for India to get its regulatory act together—investors need protection

The objective of investor protection, with fraud minimization as its focus, must be at the core of India’s VDA policy. Retail investors should not be left without remedies. The government should aim to standardize VDA rule enforcement by clearly defining the legal status of digital assets, introduce an ombudsman-like scheme, ensure the proper application of obligations under the Prevention of Money Laundering Act of 2002, and strengthen coordination between FIU-IND and enforcement bodies.