RBI’s CBDC Concept Receives Backlash From Indian Crypto Companies

The Reserve Bank of India released a CBDC concept after years of study on October 7, 2022.

Firms oppose the outdated approach of the RBI. They stated that the RBI was comparing “apples to oranges.”

India’s stance on cryptocurrencies is ambiguous to many. Even though the country wanted to outright ban it in the country, it is impossible without the compliance of global regulators.