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Government hopes to earn big from cryptocurrency, Finance Minister gave this important information

Union Finance Minister Nirmala Sitharaman has said that the central bank-run digital currency has clear benefits and the decision to introduce ‘Digital Rupee’ has been taken in consultation with the Reserve Bank of India (RBI).

HIGHLIGHTS

  • I see scope for revenue in this: Finance Minister
  • Central bank-run digital currency has clear benefits
  • Government to decide after consultation with stakeholders on crypto

new Delhi. The government is expected to earn big money from cryptocurrencies. On Tuesday, when asked about regulating the crypto sector, Union Finance Minister Nirmala Sitharaman said that the government will take a decision on it after consulting stakeholders. “The consultation is on,” he said. Anyone interested in this area is welcome to make suggestions. The Ministry will consider it after the process of consultation is completed. Asked if she sees a future for crypto in India, she said, “Many Indians see great potential in it and so I see a revenue potential in it.”

Decision to bring ‘Digital Rupee’ on the advice of Reserve Bank

Union Finance Minister Nirmala Sitharaman has said that the central bank-run digital currency has clear benefits and the decision to introduce ‘Digital Rupee’ has been taken in consultation with the Reserve Bank of India (RBI). Addressing the annual summit of the India Global Forum here on Tuesday, Sitharaman said in response to a question on the digital rupee, “It is a deliberate decision in consultation with the central bank- Reserve Bank of India.”

Digital Rupee expected to arrive this year

We want them to design it the way they want to bring it, but we expect the central bank to bring the currency this year. We believe that digital currency operated by a central bank has clear benefits, as in today’s era, bulk payments between countries, large transactions between institutions and large transactions between central banks in each country are all digital. 

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