Cryptoassets Law Guide 2026- India Chapter

1. Are cryptoassets (including, for example, cryptocurrencies, stablecoins and non-fungible tokens) defined and, if so, what are the major elements?

At present, India does not have a dedicated law or regulation that governs cryptoassets. However, the term “virtual digital assets” (VDAs) has been broadly defined under section 2 (47A) of the (Indian) Income Tax Act, 1961 (Income Tax Act; the central legislation on income tax in India), to mean “any information or code or number or token (not being Indian currency or foreign currency), generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration, with the promise or representation of having inherent value, or functions as a store of value or a unit of account including its use in any financial transaction or investment, but not limited to investment scheme; and which can be transferred, stored or traded electronically”. This definition