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India's Finance Minister Nirmala Sitharaman answered in Lok Sabha that the RBI wants a ban on cryptocurrency, but international consensus is required first
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India's Finance Minister Nirmala Sitharaman answered in Lok Sabha that the RBI wants a ban on cryptocurrency, but international consensus is required first
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Sitharaman made these remarks on a panel deliberating the role of digital money and its regulatory future.
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While most crypto exchanges in India welcomed the announcement, lawyers urged to consider the exact implications.
The CBDC is seen as the RBI's response to the rapid growth in adoption of private cryptocurrencies among Indian investors.
Rumours of government legislation banning cryptocurrencies had stirred panic among investors in India.
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