It's unclear why the government official seemed to place NFTs alongside BTC and ETH as possible currencies accepted in India
“People investing in private crypto should understand that it does not have the authorisation of government. There is no guarantee whether your investment will be successful or not, one may suffer losses and government is not responsible for this.”
Somanathan's words followed Indian finance minister Nirmala Sitharaman announcing yesterday that the country , or CBDC, by 2023, adding it could provide a “big boost” to the digital economy. She also proposed that transactions on digital assets be taxed at a rate of 30%.Indian lawmakers have previously floated a bill which could have banned the use of “private cryptocurrencies” in the country. However, a Tuesday bulletin from India’s lower house of parliament showed the legislation was not being considered during its Budget Session through May.
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