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India’s prime minister, Narendra Modi, says an Indian central bank digital currency will strengthen the digital economy. The digital rupee will also revolutionize the fintech sector by creating new opportunities and lessening the burden of handling, printing, and the logistics of cash management, the prime minister reportedly explained. India’s Prime Minister Modi Sees Benefits of … Read more
“You can buy gold, diamond, crypto, but that will have not have the value authorization by government,” said T.V. Somanathan. Go to Source Powered by WPeMatico
India’s finance secretary has confirmed that it is not illegal to buy or sell crypto assets in India. Regarding cryptocurrency regulation, “the government’s approach is to consult widely and also to look at what’s happening internationally,” he explained. Crypto Is Not Illegal in India, Official Confirms Following the announcement on cryptocurrency taxation by Indian Finance … Read more
The Indian tax department head said crypto taxation will help the department evaluate the exact depth of the digital asset market. Go to Source Powered by WPeMatico
The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s finance minister, Nirmala … Read more
The Indian government has proposed taxing income from cryptocurrencies and other digital assets at 30%. India’s finance minister, Nirmala Sitharaman, said: “There’s been a phenomenal increase in transaction in virtual digital assets … The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime.” 30% on Crypto Income … Read more
Finance minister Nirmala Sitharaman believes the introduction of a CBDC will provide a “big boost” to India’s digital economy. Go to Source Powered by WPeMatico
A recent survey by Deloitte shows that 82% of Indians plan to invest in cryptocurrency when the government provides more clarity surrounding the regulation of crypto assets. Moreover, 77.4% of respondents want cryptocurrency to be treated as securities. Indian Crypto Survey: 82% Plan to Invest in Crypto Once It Is Regulated Professional services firm Deloitte … Read more
The Cryptocurrency and Regulation of Official Digital Currency Bill does not appear as one of the 15 bills the government body will consider during its next session. Go to Source Powered by WPeMatico
Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming session of parliament. The government reportedly wants to hold more discussions to build a consensus on a regulatory framework for crypto. Crypto Bill Unlikely to … Read more