In brief
- Union Minister Piyush Goyal announced India will introduce an RBI-guaranteed digital currency at a government event in Doha on Monday.
- The minister confirmed India has not banned unbacked cryptos but continues to tax them heavily to discourage use.
- Experts say India’s stance could favor regulated, asset-backed tokens but risk slowing private crypto innovation amid bureaucratic delays.
India will introduce a digital currency backed by the Reserve Bank of India as part of a broader strategy to discourage private cryptocurrencies lacking sovereign or asset backing, Union Minister of Commerce and Industry Piyush Goyal announced on Monday.
The “RBI-guaranteed” digital currency aims to simplify transactions, reduce paper…
Oct 07 2025
