Mentor’s comment- https://www.thehindu.com/opinion/op-ed/after-the-budgets-crypto-signal-india-awaits-reforms/article65055762.ece In the intro, mention 30% flat tax rate on gains from crypto and NFTs. In the body, explain DeFi and implications of high tax on gains from crypto which can provide a fillip to DeFi and reluctance to convert crypto into rupee, increase in technology-based innovation etc. Conclude by mentioning the need … Continue reading Q.3 What is DeFi (Decentralised Finance)? What are the implications of levying high tax on gains made from the transfer of cryptocurrencies and NFTs (Non-Fungible Tokens)? (10 Marks)