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.
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