The emerging view is that virtual digital assets (VDAs) and cryptocurrencies shall remain part of the formal economy for the long haul and that discouraging their existence is not a solution. This is a reasonable inference since India is one of the largest markets for cryptocurrencies. Imposing a unilateral blanket ban is not wise. The finance minister shared a reasoned view that the decision to ban or prohibiting these intriguing assets should be undertaken after “significant international collaboration on the risks, benefits, evolution of common taxonomy and standards.”