New Delhi, Feb. 10 -- Rajya Sabha MP Raghav Chadha has urged the government to legalise virtual digital assets (VDAs) such as cryptocurrency and stablecoin, highlighting that the absence of a clear regulatory framework is pushing Indian investors and crypto companies to shift operations offshore.

"India taxes VDAs (virtual digital asset) like they are legal. But regulate it like they are illegal," the Aam Aadmi Party MP said during the Budget discussion in the Upper House of Parliament on 9 February.

He further added that while the government taxes crypto at 30% capital gains rate and levies 1% TDS on transactions, it offers no legal recognition, no investor protection, and no dedicated anti-money laundering (AML) framework.

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