Also on the card are RBI regulated private stable coins
Garg previously chaired an inter-ministerial committee on cryptocurrencies
Cryptocurrencies are too volatile to be termed money, says IMF managing director Kristalina Georgieva
RBI says it is testing the possible downstream effects of the digital currency introduction
A central bank's digital currency will facilitate new aspects to work for the regulators, which were earlier hard to execute
The deputy governor said that several legal frameworks would also need to be considered before launching a CBDC
CBDC apart from cryptocurrencies is widely meant to be used as a new payment technology for lowering costs and increasing efficiency.
Shaktikanta Das said he has 'reasons to believe' that the government is in agreement with the 'major concerns' flagged by the RBI about the cryptocurr
"The Indian Information Technology Act 2000 is completely inadequate to deal with the issues pertaining to digital currency," he said
Is CBDC just the electronic transfer of money or are we looking at something bigger completely re-engineered money working on distributed ledger?
