Digital Currency

Stablecoins risk currency substitution: RBI Deputy Governor T Rabi Sankar

RBI Deputy Governor T Rabi Sankar says rupee internationalisation aims to cut risk, not replace the dollar, as he flags stablecoin-linked currency substitution as a key threat

RBI Dy Guv reaffirms crypto scepticism, says CBDC will grow step by step | BFSI Summit 2025

The Reserve Bank of India (RBI) will continue to take a measured approach in developing its Central Bank Digital Currency (CBDC), prioritising careful assessment over speed,

CBDC adoption may take 2-3 years as banks struggle with tech, incentives

CCIL facilitates the settlement of secondary market transactions in government securities and call money market transactions, using the digital rupee

Programmable currency: Ensuring donors' money is used right and wisely

Vidyawati still had to visit the school to check whether the credit had actually come through, losing a day's work in the process

Singapore High Court gives approval to WazirX's scheme of arrangement

This comes weeks after the majority of the platform's creditors approved its revised scheme of arrangement, paving the way for the redistribution of virtual digital assets (VDAs) on the platform

No hurry to launch CBDC nationwide: RBI Deputy Governor T Rabi Sankar

That said, the CBDC pilot is progressing well, with the user base in India expanding to about seven million, said RBI Deputy Governor T Rabi Sankar

RBI to launch deposit tokenisation pilot on October 8: Details here

The Reserve Bank of India will launch a deposit tokenisation pilot on October 8 using its wholesale CBDC as the base layer to test blockchain-backed digital settlements across banks

India to roll out digital currency; Piyush Goyal flags unbacked crypto

Goyal clarified that while there is no outright ban on cryptocurrencies without Central government backing, they are heavily taxed to discourage their use

FIU issues notices to 25 offshore crypto platforms for PMLA non-compliance

FIU-IND has flagged 25 offshore crypto platforms for operating in India without PMLA registration and ordered takedown of their apps and URLs under IT Act directions

China pitches digital yuan to challenge dollar-led global currency system

To curb overreliance on a single currency, China is pushing for a multi-polar currency system with the digital renminbi at its centre

BIMSTEC Summit: PM Modi proposes annual biz meets, trade in local currency

6th Leaders' Summit adopts maritime pact to boost shipping ties, joint economic roadmap

'The Mysterious Mr Nakamoto': The tangled story of cryptocurrency's rise

Even in 1999, the notion of a digital currency that bypassed nation-states and financial institutions was not a novel one

Fintechs look beyond traditional means to scale up presence of e₹

More non-bank payment system operators are expected to join the bandwagon to extend the e₹

CBDC could be used for collection of micro-loans, says RBI official

India is among 36 countries where the CBDC is currently in the pilot stage

Singapore pulls ahead of Hong Kong in race to become digital-assets hub

Singapore doled out 13 crypto licenses in 2024 to a range of crypto operators including top exchanges OKX and Upbit, as well as global heavyweights Anchorage, BitGo and GSR

ULI will be for lending what UPI is for payments: RBI Dy Guv at BFSI Summit

BS BFSI Summit: RBI is actively working to link UPI with other countries, aiming for global acceptance that would allow Indians abroad to make payments using UPI, said RBI Deputy Governor

Thailand to pursue new policies to boost, protect digital economy

The government is supporting the use of artificial intelligence to strengthen the agriculture sector and increase exports to China, she added

Global banks to trial Swift for digital currency transactions from 2025

Central Bank Digital Currencies (CBDCs), digital versions of a country's official fiat currency, are also being trialled worldwide

Central banks' digital currency momentum growing, shows new study

China too, which is running the world's largest pilot scheme, has seen use of its protype e-CNY nearly quadruple to 7 trillion yuan ($987 billion) of transactions according to officials

Interlinking domestic fast-pay ways won't solve crossborder issues: Waller

Says frictionless cross-border payments will make it difficult to check money laundering and terror funding