kenso on Nostr: The digital rupee could squeeze cryptocurrencies in India According to local media ...
The digital rupee could squeeze cryptocurrencies in India
According to local media reports, Indian regulators are considering banning private decentralized cryptocurrencies such as Bitcoin in favor of central bank digital currency (CBDC).
Officials consider CBDC safer for paying subsidies to the public and are wary of private stablecoins, especially those pegged to gold.
The digital rupee was launched first in the wholesale and then retail segments in late 2022, and already includes more than 5 million users and 16 participating banks.
The decision to ban private cryptocurrencies has not yet been made, but is being actively discussed by the authorities.
According to local media reports, Indian regulators are considering banning private decentralized cryptocurrencies such as Bitcoin in favor of central bank digital currency (CBDC).
Officials consider CBDC safer for paying subsidies to the public and are wary of private stablecoins, especially those pegged to gold.
The digital rupee was launched first in the wholesale and then retail segments in late 2022, and already includes more than 5 million users and 16 participating banks.
The decision to ban private cryptocurrencies has not yet been made, but is being actively discussed by the authorities.