India Will Launch Its Own Cryptocurrency Digital Rupee

India Will Launch Cryptocurrency Digital Rupee

It’s official! India will launch its own crypto coin Digital Rupee in 2022-2023. The central bank of India will issue a digital version of the currency in the next financial year, which begins Apr. 1. It is expected that the introduction of the digital currency will give a boost to the digital economy.

How will the digital rupee work and what does that mean for India’s economy?

Although the launch is coming soon, there is no information as of yet on how the digital rupee will look or how it will work. According to Finance Minister Nirmala Sitharaman, the crypto coin will use “blockchain and other technologies”. The Minister also proposed a flat digital asset tax of 30% on crypto transfers.

Recognition of digital currencies by the world’s second most populous country and the world’s largest democracy is a landmark moment for cryptocurrencies.

Nigel Green from financial advisory firm deVere Group

What about Bitcoin?

The news regarding the digital rupee and the possible tax shows a big shift in the government’s opinion regarding crypto. Just months ago they were considering to impose a ban on cryptocurrencies in India. But it seems that now the country officials have realized the value of cryptocurrencies; as well as the positive aspects of the implementation of the digital rupee.

It is possible that India will also adopt Bitcoin in the future. This will be another significant step towards digitalization and implementation of cryptocurrencies on an international level.

Currently, the only country that adopted Bitcoin is El Salvador. Other countries such as Australia, China, and Jamaica are also on their way to creating digital currencies.

bons_betting_banner

Featured
Time2Spin Casino

Get 500% + 500 Free Spins up to €$C3000

Rocketplay Casino

Get 100% up to $200+ 100 Free Spins For Your First Deposit

Kryptosino Casino

Get 100% up to $500 No wager For Your First Deposit

Viggoslots Casino

Grab 100% Bonus and up to 170 Free Spins with NO Wagering Requirements!

Cashalot Bet

Get 200% up to €500 bonus casino with code CASH20 OR 100% up to €100 bonus sports with code CASH10

Scatters Casino
scatters_120x600_banner
New Bookmakers
N1Bet Casino

Get 100% up to €300/CAD450 + 150 free spins in Casino
10% NoRisk free bet up to €200/ CAD300+ 300% Hunting Bonus up to 7 500 CAD/€5,000 in Sport

Time2Spin Casino

Get 500% + 500 Free Spins up to €$C3000

Rocketplay Casino

Get 100% up to $200+ 100 Free Spins For Your First Deposit

Kryptosino Casino

Get 100% up to $500 No wager For Your First Deposit

iBet

Get 100% welcome bonus casino and special bonuses for live casino and sports betting. See your personalized welcome offer.

New Casinos
5.0 rating
Get 100% up to €300/CAD450 + 150 free spins in Casino
10% NoRisk free bet up to €200/ CAD300+ 300% Hunting Bonus up to 7 500 CAD/€5,000 in Sport
4.3 rating
Get 500% + 500 Free Spins up to €$C3000
5.0 rating
Get 100% up to $200+ 100 Free Spins For Your First Deposit
4.5 rating
Get 100% up to $500 No wager For Your First Deposit
5.0 rating
Get 100% welcome bonus casino and special bonuses for live casino and sports betting. See your personalized welcome offer.
Online Casino Reviews | Sport Predictions
© Copyright 2021 ALL-CASINOSBET.COM