Express
Reserve Bank Of India Is Considering The Need For A CBDC, According To A Recent Announcement
Summary: The Reserve Bank of India is apparently exploring the possibility of whether or not there is a need for a digital version of fiat, according to a payments booklet released earlier today. The statement went on to say that if it determined a digital currency would be useful then it would look into how to ...
The Reserve Bank of India is apparently exploring the possibility of whether or not there is a need for a digital version of fiat, according to a payments booklet released earlier today.
The statement went on to say that if it determined a digital currency would be useful then it would look into how to put digital currencies into use. The report awknowledged the growth of the crypto industry over this past year, but admitted that Indian regulators are largely skeptical and apprehensive about them. The booklet added that CBDCs could be a central bank digital liability.
In March 2020, the country’s supreme court overturned a blanket ban on crypto that the RBI had imposed on crypto businesses in April 2018. Many have expressed concerns over the future of crypto in the nation.
By Emily Mason
Tags: Bank of India,Crypto,Reserve Bank Of India
Link: Reserve Bank Of India Is Considering The Need For A CBDC, According To A Recent Announcement [Copy]
