Indian Finance Minister Nirmala Sitharaman said at an event yesterday that the use of blockchain technology will increase by about 46% in the next few years.
Sitharaman added that the future of finance will be shaped by the digitalization of banks and that artificial intelligence will play a bigger role in the field of financial technology.
Earlier this month, Sitharaman had called on the International Monetary Fund (IMF) to spearhead the global regulation of crypto assets.
India's former Finance Minister Subhash Chandra Garg told Forkast in August that the potential of blockchain technology has been overshadowed by the government's opposition to the use of cryptocurrencies associated with the technology.
India has imposed a 30% flat tax on all crypto revenues since April 1, 2022.
