No specific timeline for CBDC rollout.
Government of India has revealed in the past that it does not collect data about cryptocurrency in India.
On Thursday in an interview with Times Now, Finance Minister Nirmala Sitharaman reiterated that when she said she does not know how much money Indians have invested into crypto.
She also stated that the absence of a regulator has not stopped people from investing in crypto.
Now the Government wishes to collect taxes on income generated on crypto, as taxes are levied on any kind of income.
She added that the Government cannot be held responsible for the frauds taking place in cryptoverse.
There is no definite timeline for the Central Bank Digital Currency (CBDC) rollout.
Further, the final decision on legality of crypto will come after a comprehensive consultation with all stakeholders. There is no specific timeframe for this decision too.
So, crypto regulation may still be a distant dream.
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