Finance Minister Nirmala Sitharaman on Tuesday announced that virtual assets will now be taxed at 30 percent on all income made on them. Virtual digital assets, as they are called in the Budget speech, will most likely cover assets like non-fungible tokens (NFTs) and cryptocurrencies.

Also all crypto currencies, virtual digital asset gifts will be taxed in the hands of the recipient. There will also be no set off facility available in case of losses from investments in these virtual assets.

So, what does this mean for the universe of digital assets? To discuss this CNBC-TV18 spoke to Siddharth Sogani, Founder of CREBACO and Avinash Shekhar, Co-CEO of ZebPay.

Watch video for more.