There is only one world application of blockchain technology that has actually proven to be overall useful and adopted, and that is Bitcoin! The original and nothing else. The rest of the projects that have been completed to date have proven nothing, absolutely nothing on a large scale. While Defi was indeed promising on paper and there are user case situations where it would theoretically make sense there is nothing about it to claim it could drive the entire world in a new direction.
To date, there is no working example of the implementation of blockchain technology, but many industries are testing possibilities for better accountability, services, and transparency.
Crypto bit more complex to understand. Bitcoin is the first successful application ever used in the world using blockchain technology, but we should not have to ignore Ethereum and its forks.
As the post is about the crypto bills in India, it's very hard for the government to keep watch on every transaction, so the government trying to make a blanket rule by charging 30% tax on crypto trading against fiat. but it is completely unfair considering bitcoins current status under regulation and legal conditions.