Maharashtra brought crypto under a law called the MPID Act, the Maharashtra Protection of Interests of Depositors (in Financial Establishments) Act, which protects people from financial fraud and helps them recover their money.
This is a real step forward for investors. 👏
But it also shows a bigger gap. Right now, Indian law mainly defines virtual digital assets (VDAs) for one purpose, taxing them (under the Income Tax Act, 2025). There's still no proper rulebook for keeping investors safe, securing platforms, or giving people somewhere to go if and when something goes wrong.
That's the point we've been making for many years. Crypto rules need to cover the whole picture, meaning safety, security and support for users, not just tax.
This is a good first step. We need more steps like these to ensure India has a clear and complete framework!
