New Delhi, March 15
There is no plan to introduce cryptocurrency by the government, Minister of State for Finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday. Currently, cryptocurrencies are unregulated in India, he said in a written reply.
“RBI does not issue cryptocurrency. Traditional paper currency is a legal tender and is issued by RBI in terms of provisions of RBI Act, 1994. A digital version of traditional paper currency is called Central Bank Digital Currency (CBDC),” he said.
RBI is currently working towards a phased implementation strategy for introduction of CBDC and examining use cases which could be implemented with little or no disruption, he said in another reply. — PTI
Digital currency on cards
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