Infosys’ Nandan Nilekani not launching crypto project, calls publication ‘fake news’

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Infosys co-founder Nandan Nilekani denied starting a crypto project. Taking to Twitter on Tuesday, Nilekani wrote, “You may have come across a post on various social media platforms claiming that I started a crypto project. It’s #fakenews!”

He urged people to avoid clicking on the social media post and report it as misleading or false on the platform where they see it.

Minutes before the above tweet, Nilekani shared a photo of his phone’s home screen on Twitter and said that he only has essential apps which do not include the WhatsApp messaging platform.

“No Whatsapp. No notification badges. Only essential apps,” he wrote on the microblogging site on Monday.

The co-founder of Infosys spoke about the introduction of cryptocurrencies in the country.

In December last year, Nilekani said crypto assets were worth considering and could be used to increase financial inclusion.

“There’s a role for crypto as an asset, but obviously they’ll have to follow all the laws and make sure it doesn’t become a backdoor for money laundering…they have to use it (as) an entry point to get a lot of young people into the financial markets,” Nilekani had said at the Reuters Next conference on December 1.

In this year’s Union Budget, Finance Minister Nirmala Sitharaman announced a 30% crypto tax on all digital assets. In his February 1 budget speech, Sitharaman said that gains from trading cryptocurrencies and related assets such as non-fungible tokens (NFTs) will be taxed at 30%, adding that there will be 1 % tax deducted at source (TDS) on payments made for the transfer of digital assets.

Crypto players have welcomed the above move pointing out that India is on its way to legitimizing the crypto industry.

Meanwhile, Reserve Bank of India (RBI) Governor Shaktikanta Das said that cryptocurrency is a big threat to the macroeconomic and financial stability of the country and also warned investors who place money. money on this medium.

“I said earlier that investors who invest in cryptocurrency should keep in mind that they do so at their own risk,” Das said last week.

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