RBI-backed CBDC likely to be included in crypto bill: Officials

New Delhi: A top government official told ET that the proposal for a Central Bank Digital Currency (CBDC) backed by the country’s banking regulator may be included in the upcoming bill. Describing the Centre’s bill as a response to the central bank’s concerns about macro-economic stability, an official familiar with discussions on the upcoming legislation … Read more

RBI may launch digital currency pilot next year, says new report

The Reserve Bank of India’s digital currency may see its pilot launch in the first quarter of the next financial year, a senior central bank official said at the State Bank of India’s Banking and Economic Conference, according to a local newspaper report. Business Standard newspaper quoted P. Vasudevan, Chief General Manager, Department of Payments … Read more

View: Stablecoins are a threat to the financial system, but no one is falling prey to them

Cryptocurrencies have had an extraordinary year, reaching a combined value of over $3 trillion (£2.2 trillion) for the first time in November. The market seems to have benefited from having time in the hands of the public during the pandemic lockdown. In addition, large investment funds and banks have stepped in, at least with the … Read more