Indian crypto platforms could attain similar status as authorized dealers (similar to banks) under the guidelines of the Indian central bank, RBI.
Reserve Bank of India News
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Singapore, Malaysia, the UAE, France, Benelux countries, Nepal and the U.K. have adopted the NPCI’s UPI payments system to varying degrees.
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The Yes Bank app’s UPI integration is the first for the Indian retail CBDC, which has seen a variety of projects since its pilot launch in December.
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India’s central bank said that there’s a potential for an AI system that would initiate transactions through a conversation.
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The feature is envisaged as part of the country’s national web browser project.
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The Supreme Court bench asked the union government to file a report on whether the latter is capable of setting up a federal agency to investigate crypto-related crimes.
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The Reserve Bank of India listed six specific ways a stablecoin can undermine emerging markets, adding to its mounting case against crypto.
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The latest Cointelegraph Report analyzes the causes leading to the decline of the U.S. dollar as the world reserve currency and its potential implications.
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Reserve Bank of India Deputy Governor Mahesh Kumar Jain has told Indian bank directors they should “adopt innovative technologies such as AI and blockchain."
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In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries.
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One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program.
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The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said.
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Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.
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Reserve Bank of India Governor Shaktikanta Das warned that if crypto becomes regulated and is allowed to grow, it could cause the next financial meltdown.
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New York Governor Kathy Hochul signed the moratorium, prohibiting any new mining operations that aren’t based on 100% renewable energy.
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