Mudrex, an Indian cryptocurrency investment platform, has announced plans to offer US spot Bitcoin (BTC) exchange-traded funds (ETFs) to institutional and retail investors in India, said CEO and co-founder Edul Patel in a recent interview. Patel emphasized the significance of this move for institutions, granting them access to spot bitcoin ETFs, previously only accessible to…
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The head of India’s central bank, the Reserve Bank of India (RBI), has warned of significant risks associated with cryptocurrencies, particularly for emerging market economies. “It can impact your financial stability, currency stability, and monetary system,” RBI Governor Shaktikanta Das said. RBI Governor’s Crypto Warnings Shaktikanta Das, the governor of India’s central bank, the Reserve…
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Source: X / @FinMinIndia The governor of the Reserve Bank of India, Shaktikanta Das, has reiterated the central bank’s negative stance on crypto. He said that the RBI’s position on cryptocurrency remains unchanged. “Traveling down that path will create huge risks. I don’t think the world or emerging markets can take a crypto mania like…
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Source: AdobeStock / picsmart India’s digital rupee hit 1 million daily transactions in December, aligning with the Reserve Bank of India’s targeted goal for daily transactions by the end of 2023, Reuters reported. The central bank digital currency (CBDC), known as the e-rupee, was introduced as a digital alternative to physical cash and was constructed…
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Yes Bank’s app UPI integration is the first for the Indian retail CBDC, which has seen a variety of projects since its pilot launch since December. The Reserve Bank of India (RBI) central bank digital currency (CBDC), the digital rupee, will have enhanced usability, Yes Bank announced Aug. 30. This was thanks to Yes Bank’s…
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The Reserve Bank of India (RBI) is on course to expand the frontiers of its Central Bank Digital Currency (CBDC), the “digital rupee” as it negotiates with foreign countries to adopt cross-border payment systems. The bank is currently in talks with its counterpart in at least 18 countries on ways to facilitate trade between countries…
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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. Stablecoins have a lot of potential to harm emerging markets and developing economies, the Reserve Bank of India (RBI) claimed in its latest Financial Stability Report, released June 28. The report listed six…
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The G20 finance ministers and central bank governors have agreed that crypto regulation cannot be confined to one part of the world, said India’s finance minister. “Any action on crypto assets will have to be global,” she stressed, adding that the G20 finance chiefs’ discussion on crypto was “very substantive.” G20 Finance Chiefs on Crypto…
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The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks…
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India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India…
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