The committee's 254th report highlights the risks of scams and money laundering but recommends regulating cryptocurrencies under FEMA as digital assets.
The Indian Parliament's Home Affairs Committee has called for the regulation of cryptocurrencies instead of imposing a ban, as stated in its 254th Report on Cybercrime. While acknowledging the risks of scams and money laundering associated with crypto, the committee recommends regulating it under the Foreign Exchange Management Act (FEMA) as digital assets.