India is finally moving forward with the regulation of cryptocurrencies

We regularly bring you articles on the topic of CBDC (central bank digital currency), as it is becoming more and more a mainstream topic worldwide. While China is clearly the furthest in the industry and has already begun to gradually introduce the CBDC into everyday life, India has still not been able to decide the fate of virtual currencies in the country, but today we have the answer. However, thanks to Bloomberg, we have officially learned that Indian Finance Minister Nirmala Sitharaman has confirmed that the country will introduce a 30% tax on crypto assets as part of its regulatory legislation.

Given that the new legislation is supposed to shed a little more light on the world of cryptocurrencies, this is very positive news overall, as people will no longer have to be insecure about trading in digital assets in this country. The Indian minister also confirmed that The Reserve Bank of India aims to establish the country’s first CBDC, the digital rupee, no later than April 1 this year. Of course, as usual, the other party is of the opinion that the government is probably trying to limit the use of cryptocurrencies, as the tax seems to be as high as it is in Slovakia, for example.