{"id":51487,"date":"2025-10-07T11:46:56","date_gmt":"2025-10-07T11:46:56","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=51487"},"modified":"2025-10-07T11:46:56","modified_gmt":"2025-10-07T11:46:56","slug":"india-announces-rbi-backed-traceable-digital-currency-union-minister-says-we-are-taxing-crypto-very-heavily","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=51487","title":{"rendered":"India Announces RBI-Backed, Traceable Digital Currency: Union Minister Says \u201cWe Are Taxing Crypto Very Heavily\u201d"},"content":{"rendered":"<div>\n<p><span style=\"font-weight: 400\">On 6 October 2025, Indian Union Minister Piyush Goyal said that the country is ready to launch a sovereign, Reserve Bank of India (RBI) -backed digital currency, which will be traceable. <\/span>Goyal insisted that the country will not be encouraging cryptocurrency,\u201d which does not have sovereign backing or which is not backed by assets, say it on the federal bank or local currency.\u201d<\/p>\n<p><span style=\"font-weight: 400\">The digital Rupee will be akin to regular currency. It will be backed by the central bank, while leveraging blockchain technology.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cOur idea is that this will only make it easier to transact. It will also reduce paper consumption and will be faster to transact than the banking system. But it will also have traceability,\u201d said Goyal during his official trip to Qatar.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">BIG:<img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f1ee-1f1f3.png\" alt=\"\ud83c\uddee\ud83c\uddf3\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> India to launch RBI digital Currency!<\/p>\n<p>Union Minister Piyush Goyal says Cryptos without asset or sovereign backing won\u2019t be supported. <a href=\"https:\/\/t.co\/GXjsoXt5Fa\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/GXjsoXt5Fa<\/a><\/p>\n<p>\u2014 Sapna Singh (@earnwithsapna) <a href=\"https:\/\/twitter.com\/earnwithsapna\/status\/1975478819869122663?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">October 7, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong>DISCOVER:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Top 20 Crypto to Buy in 2025<\/a><\/strong><\/p>\n<h2><strong>\u201cWhile There Is No Ban (On Crypto) As Such, We Are Taxing It Very Heavily,\u201d Says India\u2019s Union Minister\u00a0\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Per local<a href=\"https:\/\/www.cnbctv18.com\/market\/cryptocurrency\/we-only-tax-it-piyush-goyal-on-indias-stance-on-cryptocurrency-19704626.htm\" rel=\"nofollow\" target=\"_blank\"> news reports<\/a>, Goyal also threw light on the country\u2019s stance on cryptocurrency and said, \u201cAs far as cryptocurrency, which is not backed by the Central Government, while there is no ban as such, we are taxing it very heavily. We don\u2019t encourage it because we don\u2019t want anybody to be stuck at some point with a cryptocurrency that has no backing and nobody at the backend.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Currently, India\u2019s stance is that it neither encourages nor outright bans crypto. But it imposes heavy taxes on digital assets \u2013 which includes 30% capital gains tax and 1% Tax Deducted at source (TDS). These heavy taxes have been in place since July 2022. <\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Union Minister Piyush Goyal Explains India\u2019s Stand On Cryptocurrency &amp; RBI-Backed Digital Currency\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/8-1Al9keDas?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span style=\"font-weight: 400\">But is India doing enough? The crypto community will say not nearly! Traders are looking for clear crypto regulation and reduced taxation rates.<\/span><\/p>\n<p><strong>Read More: <a href=\"https:\/\/99bitcoins.com\/people\/nischal-shetty-wazirx-crypto-adoption-india\/\">99Bitcoins Interview: WazirX CEO on India\u2019s Crypto Boom Amid Policy Void<\/a><\/strong><\/p>\n<h2 class=\"nnbtc-header__title\">WazirX CEO Nischal Shetty Says Millions Of Indians Are Already Engaging With Crypto, But Policy Environment Hasn\u2019t Caught Up<\/h2>\n<p>\u201cIndia\u2019s crypto ecosystem is often viewed only through the lens of its high taxes and regulatory ambiguity, but that misses the full picture. Despite these challenges, India consistently ranks among the top in the world for grassroots adoption, developer activity, and innovation,\u201d said Shetty on an exclusive chat with 99Bitcoins.com<\/p>\n<blockquote>\n<p>The demand is real; tens of millions of Indians are already engaging with crypto, but the policy environment hasn\u2019t fully caught up yet.<\/p>\n<\/blockquote>\n<p>\u201cThe biggest unlock would be rationalizing taxation, especially easing the TDS burden, to encourage legitimate onshore activity instead of pushing it offshore. Combined with clearer regulatory frameworks, this would create an environment where India\u2019s young, tech-savvy population and vibrant developer community can build the next generation of Web3 products.\u201d<\/p>\n<p>\u201cIndia has the potential not just to participate in Web3, but to lead it globally, provided the right policy clarity enables entrepreneurs to build for billions at home and then expand worldwide.\u201d<\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/span><\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span style=\"font-weight: 400\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">India\u2019s strategy is clear: foster a state-guaranteed digital currency ecosystem with blockchain at its core, while keeping private, unregulated digital assets in check through heavy taxation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         <\/li>\n<p><\/span><span style=\"font-weight: 400\">The digital Rupee will be akin to regular currency. It will be backed by the central bank, while leveraging blockchain technology.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>\n    <\/span><\/p>\n<p><span style=\"font-weight: 400\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/india-announces-rbi-backed-traceable-digital-currency-union-minister-says-we-are-taxing-crypto-very-heavily\/\">India Announces RBI-Backed, Traceable Digital Currency: Union Minister Says \u201cWe Are Taxing Crypto Very Heavily\u201d<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On 6 October 2025, Indian Union Minister Piyush Goyal said that the country is ready to launch a sovereign, Reserve Bank of India (RBI) -backed digital currency, which will be traceable. Goyal insisted that the country will not be encouraging cryptocurrency,\u201d which does not have sovereign backing or which is not backed by assets, say [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-51487","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51487"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/51487\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}