India to Levy 30% Tax on Crypto Income, CBDC Launch in 2022-23

India to Levy 30% Tax on Crypto Income, CBDC Launch in 2022-23
Indian Finance Minister Nirmala Sitharaman announced a 30% tax on any income from the transfer of virtual digital assets, a first for the nation.Additionally, she also said that the digital rupee will most likely be issued in the 2022-23, which is the first time the government has given a timeline on the launch of a central bank digital currency (CBDC).”There has been a phenomenal increase in transaction in virtual digital assets. The magnitude and frequency of these transactions have made it imperative to provide for a specific tax regime,” Sitharaman said in the critical Indian budget speech, which lasted for…