In the Budget 2022, Union Minister of Finance Nirmala Sitharaman announced on Tuesday that transfer of any digital/cryptocurrency asset will be taxed at 30 per cent. However, the Centre has not yet confirmed if and how it will allow use of cryptocurrency.

Giving a massive push to the digital infrastructure, the minister allocated Rs 7.5 lakh crore towards capital expenditure for 2022-23.  In her address to the nation, she said, “The Reserve Bank of India is going to issue its digital currency, and everything outside of that, which is loosely referred to as crypto, is not currency. A currency becomes, or, a currency is, a currency only when it is issued by the central bank, even if it is crypto.”