I would second your point on ignorance of the Indian government in identifying the potential of crypto and NFTs in various use cases. To begin with, there is sufficient ambiguity in the definition of cryptocurrency as provided in the act. Quoting the definition as stated in the act- “any information or code or number or token not being part of any Official Digital Currency, generated through cryptographic means or otherwise, providing a digital representation of value which is exchanged with or without consideration, with the promise or representation of having inherent value in any business activity which may involve risk of loss or an expectation of profits or income, or functions as a store of value or a unit of account…” Going by this definition, not just crypto currencies and NFTs, but several in-app tokens and coins could also be under scrutiny.