#DigitalAssetBill * Need for Comprehensive Regulation: While taxation is a crucial step, the absence of a comprehensive regulatory framework leaves gaps in areas like investor protection, market regulation, and the operation of cryptocurrency exchanges. Clarity in these areas is essential for the sustainable growth of the digital asset industry in India.

* Alignment with Global Trends: The classification of VDAs as property for taxation aligns India with several other major economies.

* Focus on Tracking and Preventing Illicit Use: The inclusion under PMLA demonstrates the government's commitment to preventing the misuse of digital assets for illegal activities.

In conclusion, while India has made significant strides in defining the tax treatment of digital assets, the broader regulatory landscape is still evolving. The Income Tax Bill, 2025, provides a detailed framework for taxation, but the industry awaits a comprehensive bill that addresses other crucial aspects like the legal status of exchanges, investor protection, and market integrity.