India has legislated to bring crypto assets under the traditional financial regulatory framework. The 50% margin requirement is quite harsh, making it much harder for institutions to delay payments in the future.

CoinWorld News, according to a report by The Times of India, the Maharashtra state legislature has passed an amendment to the 1999 Depositors’ Interests Protection (Financial Institutions) Act, officially bringing Virtual Digital Assets (VDAs), including cryptocurrencies and other blockchain-based digital tools, under the regulatory scope of the Act. The amendment requires financial institutions, before filing an appeal against a recovery order, to first deposit 50% of their total debt as a margin, aiming to curb financial institutions from delaying repayment to investors through lengthy appeal procedures.