Stock market:
STCG(Short term capital gains) are taxed at 15% , however the LTCG which were tax exempted now have their incentives reduced, now taxed at 10%. Since the incentive for holding for a longer period have been reduced, people would considering opting out of it. As expected, the stock market saw major dip for the weekend, with people cashing out their gains, and both the SENSEx and NIFTY saw their first major dip for the year 2018.
Cryptocurrencies:
The FM declared that Schrodinger's cat was dead, and then followed up with the statement that we would open the box and find out if the cat is dead or not. The damage however was done. The media houses in their quest for TRP and breaking news, took the easier road and declared that the cat was dead indeed, citing parts of FM's words. The masses as always were swayed and followed with an onslaught. Prices fell massively on all the indian crypto exchanges with BTC going to a record low of 5.2 lakhs , from 7.2 pre-budget announcement. The ripple effect from india, followed with rumours of Tether being ponzi saw a major fall in crypto market, with the marketcap falling to ~350 billion USD from ~500 billion.
Views
With the technological advancements that we are living in it, we would always have a follow up of regulations for new things to come. The regulations can't be pre meditated, however the government should not present a biased opinion by calling it ponzi and rather look properly into it. Also, full credit goes to media for creating the FUD (crypto jargon for Fear, Uncertainity and Doubt), thereby filling the plates of Indian masses with something to sip their tea with.