Critically analyse the opportunities and risks of cryptocurrencies and NFTs for India’s economy, and suggest a balanced regulatory approach. (Answer in 250 words)

Cryptocurrencies are decentralised, blockchain-based digital tokens enabling peer-to-peer transfers without a central intermediary, while Non-Fungible Tokens (NFTs) record unique digital ownership. Their rise poses complex questions for monetary sovereignty, consumer protection, innovation, and sustainability in India.

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