Nirmala Sitharaman Clarifies On Cryptocurrency Taxation: Sovereign Right To Tax, Decision On Banning To Come Later

Team Latestly Feb 11, 2022 06:17 PM IST

On February 11, Finance Minister Nirmala Sitharaman spoke about cryptocurrencies in the parliament. In her reply on Union Budget 2022-23 in Rajya Sabha, she said that banning or not banning cryptocurrencies will come subsequently after consultations. During her Budget speech, the Finance Minister had announced that the transfer of any virtual asset or cryptocurrency will be taxed at 30 per cent. She had also mentioned that this year, the Reserve Bank of India (RBI) will introduce a digital rupee. Sitharaman had added that the digital rupee will be backed by blockchain technology. Watch the video to know more.

(The above story first appeared on LatestLY on Feb 11, 2022 06:17 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).

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Budget Budget 2022 crypto india news Crypto Tax Cryptocurrency India Digital Currency Nirmala Sitharaman Nirmala Sitharaman On Crypto Tax Nirmala Sitharaman On Cryptocurrency Nirmala Sitharaman On Cryptocurrency Taxation Union Budget

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