capable of leading to the theft of assets worth 2022 of the year – Bits Media

capable of leading to the theft of assets worth, that India could issue a state-owned cryptocurrency by the end of this year or early next year.

Speaking at the budget session, Indian Finance Minister Nirmala Sitharaman (Nirmala sitharaman) noted, what The Central Bank’s digital currency will help develop the country’s economy. With the digital rupee, the Indian government hopes to reduce dependence on cash and increase seigniorage through lower transaction costs.

“The introduction of digital currency will lead to an efficient and cheap currency management system, and will also give a great impetus to the development of the digital economy", - said the minister.

The release of the digital rupee means, that by the end of this year the Indian government will fully formulate rules for regulating cryptocurrencies in the country. Expected, that the digital rupee will be effective, reliable and adjustable, however, the Indian Ministry of Finance plans to carefully weigh all the associated risks.

At the end of last year it became known, that India is postponing the adoption of a law on regulating cryptocurrencies to 2022 year. The government of the country decided to first find out the reaction of the general population to the bill.