Indian VDA Exchanges: How vigilant are users while choosing an exchange

As the Indian Virtual Digital Assets (VDA) landscape undergoes transformative shifts, discussions around compliance and consumer protection are gaining prominence, and for a compelling reason – India boasts the highest number of VDA investors globally, as highlighted in a recent report by Chainalysis.

In line with this growth, our government’s active engagement in the VDA sector has also signaled commitment to a responsible crypto ecosystem. In a notable move in March 2023, the Ministry of Finance introduced measures to encompass transactions involving VDA, bringing them under the ambit of the Prevention of Money-Laundering Act, 2002 (PMLA).