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Picture turns dark for NFTs amid rules haze
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economictimes.indiatimes.comNon-fungible tokens or NFTs could run into trouble over their classification and legality in the country as the government looks to define and regulate cryptocurrencies through a new regulation. Discussions are ongoing between crypto stakeholders and government officials on how to regulate NFTs, which are a transferable store of value and can be moved abroad digitally, said two people aware of the developments. The fear in the investor community is how the regulation will define NFTs.
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Amitabh Bachchan’s NFT collection that included Madhushala NFTs, The Loot Box NFT, Iconic Vintage Posters NFT, BigB Punks and NFT Arts was auctioned for $966,000 or Rs 7.18 crore, the highest ever in India
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