India, May 21 -- India's crypto ecosystem has once again come under regulatory focus, with the parliamentary standing committee on finance discussing taxation, compliance and the future framework for the sector amid concerns around money laundering, cyber fraud, and offshore capital flows yesterday.

The meeting was attended by senior government officials, including revenue secretary, corporate affairs secretary, and representatives from the CBDT, who briefed the committee, headed by BJP MP Bhartruhari Mahtab, on the rising risks, enforcement actions and tax compliance gaps in the crypto ecosystem.

During the meeting, the government officials told the panel that the virtual digital assets (VDA) ecosystem has been classified as a 'high-ri...