India eyes CBDC, restates opposition against unbacked ‘crypto’
India will soon introduce a central bank-backed digital currency (CBDC) that is expected to simplify transactions and reduce paper use, while enabling faster and traceable transactions compared to traditional banking. This will be based on blockchain technology to ensure transparency and legal transactions.
“We will be coming out with a digital currency which will be backed by Reserve Bank of India (RBI) guarantee. It will be like normal currency… somewhat like the stablecoins…
