The Indian government will soon legalize digital and cryptocurrency. On the occasion of the budget speech of the Government of India for the fiscal year 2022-23, the government said that it will soon give legitimacy to digital and cryptocurrency.

The announcement was made by Finance Minister Nirmata Sitharaman on the occasion of her budget speech for the fiscal year 2022-23, according to Indian media. According to local media reports, the Central Reserve Bank of India will recognize digital and cryptocurrency and issue the currency through various technologies, as announced by Finance Minister Seemarman. It is said that 30 percent tax should be paid to the government for trading cryptocurrency after the currency gets legal recognition.

The Indian government expects the country’s economy to benefit if digital currency is recognized. However, the Indian government did not issue any directives on digital and cryptocurrency during the budget speech.