Reserve Bank of India’s deputy governor wants to promote CBDCs
Rabi Sankar, deputy governor of the Reserve Bank of India, said the ideal way out of the digital currency dilemma is the rapid development and adoption of CBDCs.
Rabi Sankar, deputy governor of the Reserve Bank of India, said the ideal way out of the digital currency dilemma is the rapid development and adoption of CBDCs.
The primary focus of the G20 TechSprint 2023 is foreign exchange liquidity, anti-money laundering (AML), and central bank digital currencies with cross-border functionalities.
A PwC India report titled "Our Take – Embracing the Metaverse" notes that 63% of corporate entities in India have plans to integrate metaverse as part of their organizational processes.
Nirmala Sitharaman insists that regulating digital currencies and the technology where they are minted does not equate to controlling the sector but are efforts to ensure users' protection.
Amid regulatory challenges in the United States, Gemini sets its eyes on the APAC region, with India as its primary focus, a nation known for enforcing stringent regulations on the digital asset market.
BSV blockchain proves that its three main features—unalterable base protocol rules, unbounded scaling, and low usage fees—would help the world develop a better internet and Web3 space.
Upon launching the national blockchain infrastructure, users will not have to go through the hassle of setting up their own blockchain nodes for interoperability or security.
The Finance Minister stated that with a global outlook on digital currencies, bad actors could not profit from regulatory arbitrage and would provide a blueprint for policing the sector.
Rajeev Chandrasekhar pointed out that since digital currencies intersect with the macroeconomy and financial sector, a separate regulation must be launched for efficient control of the budding sector.
India and Russia should take the lead in forming a financial relationship to ultimately create a new common currency, according to State Duma Deputy Chairman Alexander Babakov.
JPMorgan's blockchain experiment will be restricted to banks in India's GIFT City, an economic free trade zone that competes with international financial centers like Abu Dhabi Global Market.
The Central Bank of the United Arab Emirates (CBUAE) is forging ahead with the development of its central bank digital currency following the unveiling of a strategy.