FinanceIndiaTechnologyTrending
Trending

Union Budget 2022: Digital Rupee Using Blockchain Technology to Be Launched by RBI in 2022-23, fate of Bitcoin unclear

At the Union Budget 2022 parliament session, Minister of Finance Nirmala Sitharaman proposed the introduction of a Central Bank Digital Currency (CBDC). The Digital Rupee is said to use blockchain and other technologies and will be issued by the Reserve Bank of India (RBI) in 2022-23.

Finance Minister Nirmala Sitharaman on Tuesday morning confirmed that the Reserve Bank of India will issue a digital rupee soon. The digital currency by RBI will be based on blockchain technology the tech behind Bitcoin and other popular cryptocurrencies. Digital rupee will be issued by 2022-23, the finance minister said, without providing any clarity on the future of Bitcoin and other crypto tokens.

“Digital currency will also lead to a more efficient and cheaper currency management system. It is therefore proposed to introduce a digital rupee using blockchain and other technologies, to be issued by the Reserve Bank of India, starting 2022-23,” the finance minister said.

Also crypto became legal in India, with a 30% tax on income from the sale of digital assets!

For more such stories, follow us on YouTubeFacebookTwitter, and Instagram.

Team Zillion Media

Zillion Media is a multilingual platform that produces and publishes original stories with an aim to inform, educate, and inspire young minds. Zillion Media helps and educates people about technology, history, entrepreneurship, business, environment, and more, through thoughtful, well-crafted, engaging, and informative content.

Related Articles

Back to top button