According to a report by The Times of India, India’s Maharashtra state legislature has passed an amendment to the Depositor Interest Protection (Financial Institutions) Act of 1999 (MPID Act), officially bringing virtual digital assets (VDA)—including cryptocurrencies and other blockchain-based digital tools—under the regulatory scope of the Act. The amendment requires financial institutions to deposit 50% of their total debt as a deposit before filing an appeal against a recovery order, aiming to curb financial institutions from delaying repayment to investors through lengthy appeal proceedings.