Confusion in the crypto universe: Budget leaves many unanswered questions

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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 …




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First Pub­lished: Sat, Feb­ru­ary 05 2022. 06:04 IST 



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