India Central Bank Hopes CBDC Can Combat Crypto Threat | Crypto Craft

  • India Central Bank Hopes CBDC Can Combat Crypto Threat

    From blockworks.co

    In India, the central bank is pushing ahead with its central bank digital currency (CBDC) in the belief it may counter perceived threats posed by cryptocurrencies to the nation’s financial stability. The Reserve Bank of India (RBI) outlined its intentions for its digital rupee — still in a research phase — in a concept note on Friday. The note extends upon the bank’s initial musings in February, when it flagged intention to implement a CBDC sometime between 2022 and 2023. As per recommendations of an internal working group established by the bank in October 2020, the RBI now says it’s exploring an ... (full story)

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XMR
Oct 10, 2022 6:36pm
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I think people knowledgable in crypto aren't going to move their funds to CBDC and for those who are not currently knowledgeable in crypto and start with CBDC, eventually they'll become knowledgeable and move their funds out of CBDC and into crypto.
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