India’s Web3 industry has secured another seat at the parliamentary table. The Joint Committee examining the Corporate Laws (Amendment) Bill, 2026 heard representatives of the Bharat Web3 Association (BWA), the India Blockchain Forum (IBF) and the India Blockchain Alliance (IBA) on Thursday, July 9, according to an official post by the Lok Sabha Secretariat on X.
The blockchain bodies appeared in the fourth session of a packed day. Earlier sittings featured the Ministry of Finance’s Department of Financial Services along with the Reserve Bank of India (RBI) and the Insurance Regulatory and Development Authority of India (IRDAI), followed by the Department of Revenue with the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC).
A third session brought in the Ministry of Electronics and Information Technology (MeitY), NITI Aayog, and the Insolvency and Bankruptcy Board of India (IBBI), per the Secretariat’s post. The Lok Sabha Secretariat also shared visuals of the committee’s proceedings on its official Facebook page.
Confirming its participation in a statement posted on X, the BWA said it was “privileged to be invited” by the panel and was allowed to present the sector’s views on a range of relevant matters. The association, whose members include CoinDCX, CoinSwitch and Coinbase, said the engagement reflects the growing recognition of the Web3 and Virtual Digital Assets (VDA) ecosystem in India’s policy discourse, and thanked the government, regulators and lawmakers for keeping the dialogue open even where views diverge.
Report Targeted for Monsoon Session
Committee chairman and BJP MP Sudhir Gupta said that the panel is holding back-to-back meetings and is working to finalise its recommendations soon. “We will try to present the report during the monsoon session,” Gupta said, adding that clause-by-clause discussions will follow the stakeholder consultations.
Per the report, the committee is also slated to hear the Confederation of Indian Industry (CII), FICCI, and the PHD Chamber of Commerce, along with Laghu Udyog Bharati, the National Small Industries Corporation, top law schools including NLSIU Bengaluru, NLU Delhi, and NALSAR, and several law firms. Gupta said the panel heard more than 40 stakeholders, including SBI, BSE and NSE, during its recent visit to Mumbai.
The Corporate Laws (Amendment) Bill, 2026, was introduced in the Lok Sabha by Finance and Corporate Affairs Minister Nirmala Sitharaman on March 23, 2026, and referred to the 31-member joint committee comprising 21 Lok Sabha and 10 Rajya Sabha MPs. The Bill proposes amendments to the Companies Act, 2013, and the Limited Liability Partnership Act, 2008, seeking to decriminalise procedural defaults by replacing criminal provisions with civil penalties and to improve the ease of doing business.
Second Parliamentary Track for Crypto
Thursday’s hearing marks the second active parliamentary channel engaging India’s digital asset industry. As reported earlier by The Crypto Times, the Parliamentary Standing Committee on Finance, chaired by BJP MP Bhartruhari Mahtab, is separately conducting a detailed study titled “A Study on Virtual Digital Assets (VDAs) and Way Forward,” under which it heard the RBI and ICAI on July 2 and exchanges including Binance, WazirX and ZebPay in May.
The twin engagements come at a time when India still lacks a comprehensive law governing VDAs. The sector continues to operate under a flat 30% tax on gains, 1% TDS on transfers and anti-money laundering obligations under FIU-IND, with the long-awaited crypto discussion paper yet to see the light of day.
For an industry that has spent years asking for a seat in the room, being called before two parliamentary panels within a single week signals that the conversation in New Delhi is no longer about whether to engage with Web3, but how.
Also Read: India’s ‘Blockchain Yes, Crypto No’ Push Just Reached AIIMS Delhi
