Union Finance Minister Nirmala Sitharaman, in an exclusive interview with Rahul Joshi, Editor-in-Chief, Network18, added a little more clarity to the discourse on the 30% tax on crypto assets, or, as the FM had said in her Budget 2022 speech on Tuesday, "virtual digital assets".
Responding to a question on whether the government is looking to table a bill to regulate crypto currency, Sitharaman first sought to clarify the Centre's stance on these crypto assets. "From the time of tabling the Budget in the Parliament, I have tried to draw this distinction between 'privately generated crypto assets' and what can be a digital currency," Sitharaman said, adding: "Private people
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The Finance Minister further said, "It would be
Sitharaman said that was why the government told the Parliament--in the Budget speech- that the central bank would issue a digital currency, dubbed 'Digital Rupee'. She said the government seeks to impose a 30% tax on crypto deals because people are making profits from them. "What happens outside , because there are transactions with a certain kind of profit, we decided to tax it,' she said. She further said the name for the digital currency would be decided by the Union cabinet.
On the much-discussed cryptocurrency bill, the finance minister said there is no clarity at the moment. "As far as a