New Delhi, July 24 -- The Parliamentary Standing Committee on Finance has recommended that any move to regulate cryptocurrencies and other virtual digital assets (VDAs) under the proposed Securities Markets Code should be preceded by wider policy deliberations and coordination among regulators and government departments.

Examining the Securities Markets Code, 2025, the committee noted that the proposed legislation has been designed as a technology-neutral framework, allowing tokenised versions of existing securities such as shares, bonds and units of investment schemes to remain within the ambit of securities regulation.

However, the panel observed that cryptocurrencies that do not possess the characteristics of securities or derivative...