 "cryptocurrencies")
The Budget had several announcements indicating policymakers are actually thinking about the cryptocurrency ecosystem. Importantly, the Reserve Bank of India (RBI) is scheduled to roll out a central bank digital currency (CBDC), using a blockchain or similar technologies. Also, a tax treatment for cryptocurrency and associated digital assets such as NFTs (non-fungible tokens) was announced.
These announcements leave many unanswered questions, however. We’ll have to wait for further clarifications and notifications from the RBI and the income tax (IT) department to understand the nitty-gritty.
While the crypto trading community and the exchanges are relieved by the granting of some degree of legitimacy,
