India Accelerates CBDC Development and Tightens Private Cryptocurrency Regulation with Tax
Minister Piyush Goyal stated that the Indian government will accelerate the development of the Central Bank Digital Currency (CBDC), also known as the digital rupee, issued by the Reserve Bank of India (RBI). The CBDC, which has been piloted by the RBI since late 2022, is seen as a key tool to modernize the national payment system, simplify transactions, and increase payment speed.
While prioritizing the state-backed CBDC, the Indian government maintains a stance of not encouraging cryptocurrencies from private companies. Although private crypto assets are not completely banned, they are still subject to heavy taxation to limit their use.
The Indian government tends to refrain from enacting a comprehensive framework law for crypto, stemming from concerns that it could inadvertently "legalize" digital assets lacking state backing. This stance aims to protect citizens from the risks of volatile assets without an overseeing authority. #Vietnam
This strategy comes amid India's position as the leading country in the world in terms of cryptocurrency adoption, excelling in all criteria, according to a report by Chainalysis (09/2025).
Notably, in Vietnam, the State Bank has also officially assigned Viettel and MobiFone the task of researching the country's CBDC. The project is in its early stages, focusing on assessing impacts and practical application possibilities before proceeding with trials, indicating that the wave of digital currency development is spreading in the region. #anh_ba_cong