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Indian Government To Bring Crypto Regulations, Plans To Launch CBDC

The Indian government is going ahead with its digital rupee development. Also, it wants to launch its first pilot test next year. Particularly, as the central government plans to bring a crypto regulations bill.

Furthermore, the Indian government believes this will help the public take to the central bank digital currency (CBDC). Also, as it allows the central bank to make any improvements or changes in good time.

Also, an official from Indian Reserve Bank notes plans to launch the first pilot in the next fiscal year.

More so, P. Vasudevan, the chief general manager at the Reserve Bank of India’s (RBI) Department of Payment and Settlement, P. Vasudevan confirms the RBI wants to launch a CBDC. Of course, as its neighbor China leads the global race with its digital yuan.

Meanwhile, Vasudevan, addressing the State Bank of India’s Banking and Economic Conclave, saying

“I think somewhere it was said that at least by the first quarter of next year,…”
“a pilot could be launched. So we are bullish on that.”

Indian Government Wants To Introduce Crypto Regulations

Furthermore, Indian central government Bhartiya Janta Party is ready to introduce a cryptocurrency regulations bill in the next Winter session of the parliament.

Lastly, Several local reports indicats that India could do a soft launch of its digital rupee in December.

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