'Crypto used for bribes, drugs': BJP MP in Lok Sabha

During the parliamentary proceedings on Friday, Dr Nishikant Dubey, BJP MP from Godda, Jharkhand applauded government’s stance on cryptocurrencies and praised the proposed taxation introduced during the Union Budget 2022.

Dubey said that cryptocurrencies are used across the world to pay bribes and buy drugs.

He also further went on to say that crypto has become a cause of concern for the Government of India, Reserve Bank of India as well as the Income Tax Department.

The Member of Parliament also praised the government’s decision to introduce a Reserve Bank of India-backed CBDC or Central Bank Digital Currency in the near future, saying that this would promote digital payments.

It is noteworthy to mention that Finance Minister Nirmala Sitharaman introduced a flat 30 per cent tax on virtual digital assets in the latest budget session. She also introduced a 1 per cent TDS on virtual digital assets.