"Budget Gave Direct Answer - Crypto Won't Be Banned": Minister To NDTV
NDTV
Digital rupee: "Digital payments are faster, leakproof and responsive. India is one of the top nations that is using digital payments in a big way," Union Minister Rajeev Chandrasekhar told NDTV
People should avoid putting their money into highly volatile illegal cryptocurrencies and instead wait for the central bank to issue "digital rupee", Union Minister Rajeev Chandrasekhar told NDTV today.
Finance Minister Nirmala Sitharaman yesterday in her Budget speech recognised crypto as an asset that will be taxed at 30 per cent. The Reserve Bank of India, or RBI, will launch a "digital rupee", a move that aligns with the future of digital payments in India, where transactions are higher than the US and China.
"If you are very keen on crypto and you want to make payments and transactions with crypto, please wait for RBI's digital currency or digital rupee. It will be legal and hi-tech," Mr Chandrasekhar, Minister of State for Electronics and Technology, told NDTV.
He cautioned people against investing in cryptocurrency not recognised by the authorities. Only the RBI can issue currency, and anything outside of this, whatever their name, is not currency but could be asset.