Some large Indian private and state-run lenders disbursed amounts related to employee benefit schemes directly to staff's CBDC wallets, instead of their salary account in December
The Narendra Modi-led administration, as part of its leadership of the G20 forum, has been pushing for a wider global agreement on dealing with the risks brought on by cryptocurrencies
Sitharaman said because cryptocurrencies are borderless, any legislation to regulate or ban such assets will only be possible through global collaboration.
The tax will be levied on the difference between the cost of the acquisition of the asset and the transfer price to the employee, the report said
While Coinbase is shrinking its global workforce by 18%, a company spokesperson told TechCrunch only 8% of India staff would be laid off
India's Reserve Bank tells government that cryptocurrencies could lead to a dollarisation of the economy