India announces digital rupee rollout and 30% crypto tax

Taj Mahal, India

India is carving out its central bank digital currency (CBDC) plans with a digital rupee launch set for the coming financial year, as well as a 30% crypto tax.

In Tuesday’s speech on the upcoming year’s budget, Indian finance minister Nirmala Sitharaman confirmed the launch of a CBDC by 2023 to boost economic growth.

“Introduction of a central bank digital currency will give a big boost to the digital economy. Digital currency will also lead to a more efficient and...