One of the countries that have a hard stance on cryptocurrencies, IndiaA harsh statement came from crypto. Indian Finance Minister Nirmala Sitharamanstated that the government wants to ban cryptocurrencies.
Tough Step from the Government of India to Cryptocurrencies
Indian government, central bank cryptocurrencyHe stated that he thought the units should be banned.
The Indian government has expressed the need for global cooperation for a ban on cryptocurrencies to take effect. speaking on the subject Indian Finance Minister Nirmala Sitharaman, made the following statements:
Cryptocurrencies are by definition unlimited and require international cooperation to avoid regulatory arbitrage. Therefore, any regulation or prohibition legislation can be effective only after significant international cooperation on assessment of risks and benefits, common classification and evolution of standards.
Also, last June, India announced that a 1% tax cut for crypto assets will come into effect as of July 1.
Last June, Rabi Sankar, vice-president of the Reserve Bank of India (RBI), stated that CBDCs would bring the end of private cryptocurrencies.
