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Dear Believers,
Today is a remarkable day for the crypto community and all of us in India. With a forward-looking and futuristic budget, our Honourable Finance Minister Mrs. Nirmala Sitharaman has laid down a plan for greater adoption of cryptos. Finally, we now also have a new term that specifically classifies crypto, NFTs, and similar assets as "Virtual Digital Assets". It's great news and something that we have been eagerly waiting for.
While more clarity is required on the taxation aspects, we have taken a step in the right direction. Taxation will bring clarity and confidence to the Indian crypto industry and also to investors and traders like you who believe in the potential of virtual digital assets and are making informed decisions while putting their hard-earned money in these digital assets.
With Central Bank Digital Currencies (CBDC), India will come to the forefront of the adoption of blockchain technology at a massive scale. As a community of believers, we have been tirelessly bringing crypto/blockchain to the forefront over the last many years. Today, we have crossed a major hurdle and the way forward will be amazing.
As the dust settles, we'll gather more information and a greater understanding of the tax structures, impact on products and consumers, how to field queries, and so on. We'll dive deeper and share more insights on the same.
Until then, let's enjoy the moment and cherish this day! 🎊
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