Current Affairs · Virtual Digital Assets Regulatory Framework
Consider the following statements regarding the regulatory amendments introduced to trace undisclosed Virtual Digital Assets (VDAs) and their alignment with global reporting frameworks: 1. The 2025 Budget expanded the scope of 'undisclosed income' for search and seizure proceedings to include VDAs. 2. The statutory definition of VDAs is being aligned with the Financial Action Task Force (FATF) framework to capture and regulate innovative digital assets like utility tokens, security tokens, and crypto derivatives. 3. The Finance Bill 2025 has introduced provisions for the mandatory reporting of crypto assets in financial transaction statements to ensure transparency in digital asset holdings. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 and 3
- 21 and 3 only
- 32 and 3 only✓
- 41 and 2 only
Correct answer
2 and 3 only
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