RBI seemingly wants to ban cryptocurrencies, but not for the reasons you might think
It appears the root cause of concern is the potential
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RBI
Indian Finance Minister Says RBI Is on Board With New Crypto Rules
"We were all discussing prior to the budget. And we shall continue to have the discussions. And all decisions ... are being taken on it, obviously, because it [is] very serious, it is a digital currency from the central bank of some sort, of some shape, some color, some description.
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India Announces Upcoming Launch of Central Bank Digital Currency, Digital Rupee, to Be Issued by RBI – Regulation Bitcoin News
The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s
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RBI to issue blockchain-based digital rupee
Indian Finance Minister Nirmala Sitharaman confirmed at the parliament budget session on Tuesday that the Reserve Bank of India (RBI) will issue a digital rupee based on blockchain, as she proposed the issuance for financial year 2022-23. Fast facts “Digital currency will also lead to a more efficient and cheaper currency management
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India’s Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection – Regulation Bitcoin News
India’s central bank, the Reserve Bank of India (RBI), has warned about multiple risks cryptocurrency poses to the country’s financial stability. “They are also prone to frauds and to extreme price volatility,” the apex bank claims, stressing that “cryptocurrencies pose immediate risks to customer protection and anti-money laundering (AML) /
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India’s Central Bank RBI Discusses Digital Currency and CBDC Launch With Minimal Impact on Monetary Policy – Regulation Bitcoin News
India’s central bank, the Reserve Bank of India (RBI), says a basic central bank digital currency (CBDC) model must be adopted initially and tested comprehensively to minimize the impact on the country’s monetary policy and banking system. The Indian apex bank sees several benefits in launching a digital rupee, including
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RBI Recommends India Implement Basic Version of CBDC
In a major step away from the RBI’s stance in the past towards anything cryptocurrency-related, the report says “In its basic form, a central bank digital currency (CBDC), provides a safe, robust, and convenient alternative to physical cash. In comparison with existing forms of money, it can offer benefits to
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Indian Central Bank RBI Favors Complete Crypto Ban, Says Partial Ban Won’t Work – Regulation Bitcoin News
India’s central bank, the Reserve Bank of India (RBI), has reportedly told the central board of directors that it favors a complete ban on cryptocurrencies, stating that a partial ban will not work. The central bank reiterates that it has serious concerns regarding crypto. Meanwhile, the Indian government is reportedly
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India Has No Plans to Recognize Bitcoin As Currency; RBI Working On CBDC Rollout: Reports
The Indian government does not plan to recognize bitcoin as a currency, finance minister Nirmala Sitharaman said on Monday.During a question and answer session in the parliament, Nirmala Sitharaman also said that the government does not collect data on bitcoin transactions, according to a report from local news site Mint.The
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India’s Central Bank RBI Reiterates ‘Serious Concerns’ About Crypto — Governor Doubts Reports on Indian Crypto Investors – Regulation Bitcoin News
India’s central bank, the Reserve Bank of India (RBI), still has “serious concerns” about cryptocurrency from a macroeconomic and financial stability standpoint. Furthermore, RBI Governor Shaktikanta Das says he doubts the veracity of the number of Indian crypto investors reported by the media. RBI Has Serious Concerns About Crypto, Governor Doubts
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