India to launch its own digital currency..

[Alexandoy]

Even though the Government of India has announced the implementation of its digital currency, but it has collapsed before it is implemented.
This budget full of 30% tax, 1% TDS, gift tax will have an adverse effect on this currency.

Since the government does not control the blockchain, it would not be possible to tax other cryptos, everything would be taxed on government crypto, and no one would use it.

The vital element there is what you mentioned - the control of the government. Why would you create something that will be beyond your control? The currency of the country is regulated by the central bank which I think is the best system that there is. If a digital currency will depend on other factors outside of government control then that would be out of logic. Maybe the government's intention is to earn from the taxes that it will levy on the digital currency.

 

[Suba]

It seems that India will legalize cryptocurrencies, by imposing a 30% tax on every crypto income, because India considers crypto to be classified as gambling. Even if India will issue theri digital currency, it is a natural thing because it aims to limit the movement of cryptocurrencies, the digital currency is usually pegged to local money (Rupees).

 

[marthapagehere]

great, we have a crypto community, especially in India. TLDR the threads earlier. The government needs highly intellectual people to explain what cryptocurrency is.