A new, principle-grounded taxonomy is needed to maneuver through the new territory by logically incorporating the claims of digital assets into the hierarchy of Section 53 of the code.

The current patchwork approach (neither recognizing crypto-assets as legal tender nor banning them outright, coupled with a flat 30% tax on gains) leaves investors and service providers in limbo.

The taxation framework presents significant challenges that hinder the growth and adoption of VDAs in India.

The article discusses whether regulatory frameworks should be strengthened for governance of NFTs in the Indian financial market.

The article aims to cover nature and scope of NFT and crypto usage in the real estate industry through judicial rulings and market trends.

The author argues that the easy trading of NFTs in India requires the legalization of cryptocurrencies.