RBI Governor Warns Against Rapid CBDC Launch, Advocates Gradual Approach

August 27, 2024 Bitcoin.com

The governor of India’s central bank, the Reserve Bank of India (RBI), Shaktikanta Das, has highlighted the challenges of implementing cross-border digital currency interoperability and the necessity for robust governance. He emphasized the importance of gradual central bank digital currency (CBDC) rollout and data-driven insights from pilot programs. RBI Governor Warns of Challenges in Digital […]

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India Expected to Release Consultation Paper on Cryptocurrency Regulations in Coming Months, Report

August 24, 2024 Bitcoin.com

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The Indian government, through a panel headed by the Secretary of the Department of Economic Affairs (DEA), is expected to release a consultation paper on cryptocurrency regulations. The paper, scheduled for release between September and October 2024, will seek input from stakeholders to gather feedback on effective regulation. India is emphasizing the importance of international […]

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RBI Report Highlights India’s Central Bank Digital Currency Development

August 21, 2024 Bitcoin.com

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India’s central bank, the Reserve Bank of India (RBI), published its August bulletin on Monday. The report discusses several aspects of central bank digital currency (CBDC) and its implications. The RBI is actively involved in developing CBDC initiatives to enhance cross-border payments, improve financial inclusion, and mitigate risks posed by private digital instruments. The RBI’s […]

Cboe seeks approval for Fidelity’s Solana ETF

Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO

August 3, 2024 Bitcoin.com

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The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused of defrauding investors through a Ponzi scheme disguised as a cryptocurrency business. Orissa High Court […]

Cboe seeks approval for Fidelity’s Solana ETF

India’s Digital Rupee Surpasses 5 Million Users, RBI Discloses

August 1, 2024 Bitcoin.com

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India’s central bank, the Reserve Bank of India (RBI), has revealed that as of June, there were five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI emphasized that the digital rupee is designed to complement cash and existing payment systems, serving both wholesale and […]

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India’s Digital Rupee Usage Drops Drastically After Initial Surge

June 26, 2024 Bitcoin.com

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India’s central bank digital currency (CBDC), the digital rupee, has experienced a significant decline in usage, decreasing to a tenth of its peak in December 2023, according to sources involved in the pilot project. The Reserve Bank of India (RBI) initially reached 1 million daily retail transactions with the digital rupee by incentivizing banks and […]

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Indian Central Bank RBI Warns Retail Investors of Crypto’s Lack of Accountability and Stability

May 23, 2024 Bitcoin.com

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The Reserve Bank of India (RBI)’s May 2024 bulletin warns retail investors that “the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity.” The Indian central bank also cautioned that some cryptocurrency systems may be “prone to crisis without safeguards.” RBI Bulletin’s Crypto and Defi Warnings India’s central bank, the Reserve Bank […]

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Indian Finance Minister: Crypto Regulation Needs Global Consensus

May 20, 2024 Bitcoin.com

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Indian Finance Minister Nirmala Sitharaman advocates for global consensus on cryptocurrency regulation, highlighting the need for international cooperation, particularly within the G20. She noted that while Indian regulators have differing opinions regarding how to treat crypto, there is currently no significant confusion. Indian Finance Minister on Crypto Regulation Indian Finance Minister Nirmala Sitharaman stressed the […]

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Indian Regulator Advocates Multi-Agency Approach for Crypto

May 18, 2024 Bitcoin.com

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The Securities and Exchange Board of India (SEBI) has submitted its recommendations for regulating crypto assets to a government panel. SEBI suggests multiple regulators for different aspects of cryptocurrency trade. India’s central bank, the Reserve Bank of India (RBI), however, views crypto as a macroeconomic risk, highlighting concerns about tax evasion and fiscal stability. SEBI […]

Cboe seeks approval for Fidelity’s Solana ETF

India’s Digital Rupee Expands: Non-Banks to Offer Central Bank Digital Currency Wallets

April 6, 2024 Bitcoin.com

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India’s central bank has announced that it will enable non-bank payment system operators to offer central bank digital currency (CBDC) wallets. Noting that “necessary changes will be made to the system to facilitate this,” the Reserve Bank of India (RBI) said the initiative is expected “to enhance access and expand choices available to users.” Non-Bank […]

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