RBI will introduce a Digital Currency based on blockchain technology termed CBDC- The Central Bank Digital Currency between 2022-2023. Which would be India’s first Digital Rupee.
The Union Budget 2022-23 has brought some positive news for the Crypto community in India as well as the world.
The budget has proposed Taxation on the profit of any Crypto asset up to 30% and 1% TDS at any transfer.
The announcements on the taxation system and the introduction of crypto, express the central government’s intention on cryptocurrencies and other virtual or digital currencies.
The introduction of taxation on Crypto is the first step towards the regulation of Cryptocurrency and Digital assets.
Which shows the positive attitude of the Government regarding Cryptocurrency and Blockchain technology.
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