India to issue digital rupee by early 2023

An anonymous source from the Indian government reported plans of the Reserve Bank of India (RBI) to issue a digital rupee by the beginning2023 years.

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Now RBI employees are developing a blockchain for CBDC, in which information about all transactions will be stored. Each coin will be assigned a unique number by analogy with banknotes.

Residents of the country will be able to pay for goods and services with digital rupees using an electronic wallet. After confirming the operations, the central bank will transfer digital assets to the recipient of the funds.

“Digital rupees will be included in the total money supply.CBDC nemnogim will treasure otlichatcya From fiatnoy valyuty and Po cuti ctanet elektponnoy fopmoy nalichnyx denezhnyx cpedctv, kotopoy mozhno vocpolzovatcya c pomoschyu elektponnogo koshelka, cozdannogo gocudapctvom "- poyacnil anonimny ictochnik.

Finance Minister of India Nirmala Sitkharamanbelieves that the virtual currency of the central bank will increase efficiency and reduce the cost of managing money flow. In this regard, she supported the creation of a digital rupee and stated that the asset would be released in the period from 2022 to 2023.

The Government of India is skeptical aboutnon-state cryptocurrencies and will never give them the status of legal tender. However, officials do not plan to ban digital assets and want to replenish the treasury by taxing the sale of coins.

The authorities have developed a law according to which traders will be required to transfer to the budget 30% of the profits received as a result of transactions for the purchase and sale of virtual currencies.

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