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RBI planning to launch India’s own cryptocurrency, too early to talk about says governer

Shortpedia

Content Team

The Reserve Bank of India (RBI) is now planning to develop India’s own digital currency in India after banning banks from extending any services to crypto entities. The governor of RBI Shaktikanta Das said that the cryptocurrency issuance is a sovereign mandate and will not be handed over to a private company. He said it would be “too early” to talk about a central bank-issued digital currency, due to technical challenges.