Finance Bill 2022 defined it Under IT Act, 1961

Includes Crypto tokens, NFT’s, E-Books

Any information, token that is generated in cryptographic manner, which can be stored, transfered and traded electronically

Concerns:

• Highly unstable, Risk to economy
• Against the sovereign interest of country, undermining RBI’s monetary policy.
• Risk of dollarization, Risk of anonymity ( Drugs, Terror Financing, Money Laundering)