Being recommendatory in nature, VDA platforms are expected to follow operational frameworks and protocols during the token listing process, the crypto and web3 industry body said.
Letters sent out to the finance ministry last month by Bharat Web3 Association and CoinDCX highlighted concerns over the 30 percent VDA tax burdening small Web3 and crypto businesses and the need for a level playing field by bringing offshore exchanges under TDS regulations.
The IMF-FSB synthesis paper on policies for crypto assets has proposed the need for a comprehensive policy and regulatory response for crypto-assets to address the risks to macroeconomic and financial stability
Experts shared their views during a panel discussion at the BW Businessworld Web 3.0 Summit and Awards , , BW Businessworld Web 3.0 Summit & Awards 2023, Web 3.0, Web3, policymaking, Bharat Web3 Association, policy, icrier, IndiGG DAO