India to introduce 30% crypto tax, digital rupee

[TomPluz]

Finance minister Nirmala Sitharaman believes the introduction of a CBDC will provide a “big boost” to India's digital economy. In a speech discussing the budget for 2022, Indian finance minister Nirmala Sitharaman announced the launch of a central bank digital currency (CBDC) by 2022-23 as means to boost the country’s economic growth.

Sitharaman highlighted the need for digital inclusion across numerous business verticals while announcing the fund allocation set in the Union Budget.

Speaking about the launch of a digital rupee, she added that the introduction of a CBDC will provide a “big boost” to the digital economy. She also highlighted the possibility of a more efficient and cheaper currency management system made possible by digital currencies.

Taken from: HERE.


So will this mean that finally cryptocurrency will be a legal business in India with the introduction of the tax levy that all crypto users got to pay in order to be considered as above board? India is a big crypto market and its official opening can push the crypto industry to a new height...