Indian Central Bank RBI Favors Complete Crypto Ban, Says Partial Ban Won’t Work
India’s central bank, the Reserve Bank of India (RBI), has reportedly told the central board of directors that it favors a complete ban on cryptocurrencies, stating that a partial ban will not work. The central bank reiterates that it has serious concerns regarding crypto. Meanwhile, the Indian government is reportedly making additional changes to the crypto bill. RBI Wants a Blanket Ban on Crypto, Says a Partial Ban Won’t Work The Reserve Bank of India (RBI) held the 592nd meeting of the central board of directors Friday under the chairmanship of Governor Shaktikanta Das.....
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The Indian government is consulting with the Reserve Bank of India (RBI) on crypto policies. According to the finance minister, the government and the central bank are in “complete harmony” on crypto and other issues. Indian Government and Central Bank Discussing Crypto Policies Internally Indian Finance Minister Nirmala Sitharaman revealed Monday that the government is discussing crypto policies with the central bank, the Reserve Bank of India (RBI). At the conclusion of the RBI’s board meeting, the finance minister told reporters that the government and the central....
A high-level meeting is reportedly being held on cryptocurrency regulation in India and Prime Minister Narendra Modi will take a final decision on how India will regulate the crypto sector. All options are being discussed including full and partial regulation as well as a complete ban and a partial ban.
Indian Crypto Regulation to Be Decided by Prime Minister Modi
Indian Prime Minister Narendra Modi will take a final decision on the country’s cryptocurrency regulation, the Economic Times reported Friday, citing two people familiar with the development.
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Taiwan’s central bank is yet to conclude work on its central bank digital currency (CBDC) and according to the bank’s governor, the institution may need two more years to finish its work, a report has said. Some of the bank’s next tasks include winning the public’s support, ensuring the system is stable, and building the currency’s legal framework. Simulating Use of the CBDC Some two years after work on Taiwan’s central bank digital currency (CBDC) commenced, the governor of the country’s central bank, Yang Chin-long, recently revealed that....
The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The government also clarified that India’s central bank digital currency (CBDC), that the RBI will launch this financial year, is “a digital version of traditional paper currency.” Indian Parliament Asks Government About ‘RBI Cryptocurrency’ The Indian ministry of finance answered some questions Tuesday in Rajya Sabha, India’s upper house of parliament, regarding “RBI....
Blockchain technology, the innovation behind digital currencies like bitcoin won’t be eliminating fiat cash despite gaining prominence in recent times, opined the deputy governor of India’s central bank. Speaking at the inaugural FinTech summit organized by prominent industry associations representing Indian commerce, industry and software, Reserve Bank of India (RBI) deputy governor R. Gandhi has dismissed suggestions that blockchain-based digital currencies would put an end to paper money. Pouring scorn over such a scenario, the central bank official was quoted by Indian business daily....