The advent of Web 3.0 has seen significant expansion of the internet, with the most notable evolutions being the rise of the metaverse, non-fungible tokens (NFTs) and digital assets. NFTs and digital assets have provided attractive investment avenues and are likely to see cross-border issues across various facets such as regulations around foreign exchange controls, tax, cyber theft, data privacy and intellectual property. Globally, digital assets (and more particularly the cryptocurrency market) are rapidly growing with the impetus from several trading platforms, mostly app-based and thus making it an attractive investment avenue for the new age investors who are willing to risk more stakes in the bet.
In the past, there has been controversy surrounding the legality of NFTs and cryptocurrencies in India. Recently, the government has introduced a specific tax regime for crypto assets, however a new law to introduce digital currency backed by the Reserve Bank of Indian (RBI) and regulate other cryptocurrencies (and possibly NFTs) is still awaited.
In this webinar, we shall dwell upon the legal and regulatory outlook in relation to the metaverse, NFTs and digital assets along with the newly introduced taxation framework for virtual digital assets. We shall also take cues from global trends in these digital assets.
Topics include:
- ‘Smart contracts’, data/privacy and intellectual property issues relating to the metaverse, NFTs and digital assets
- Funding and M&A in the sector – trends and outlook
- Global approach towards taxation and regulation of these digital assets
- International trends in NFTs and digital assets – is Dubai the world’s next ‘Crypto Capital’?
