21-Feb-2024
HomeENGLISHThe Digital Currency Revolution Unveiled in the G20 Summit

The Digital Currency Revolution Unveiled in the G20 Summit

The G20 stands resolute in advocating global regulations for cryptocurrencies.

In the wake of the G-20 Summit held in New Delhi during the second week of September, the participating nations collectively unveiled a joint proclamation that reverberated with significance, notably concerning the realm of technology.

This proclamation carries profound implications for India’s future. It is evident from the G20’s declaration that the global landscape is hurtling swiftly toward the age of digital currencies.

India’s rapid advancement in digitizing financial transactions heralds a future brimming with limitless prospects, guided by digital currencies.

It’s noteworthy that India still needs to bestow official recognition of cryptocurrencies.The 2022 Union Budget introduced a significant 30% tax and a 4% cess on digital asset transactions.

The initiation of taxation on such transactions is the primary stride towards regulating them. The Delhi Declaration of the G20 unequivocally prioritizes cryptocurrencies, and the group of nations vigilantly monitors the potential risks embedded within the crypto asset ecosystem, as articulated in the manifesto. The G20 stands resolute in advocating global regulations for cryptocurrencies.

For a detailed story, please visit: Awaz the voice

Also Read: India’s Global Leadership: G-20 and Development

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