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- RBI backs crypto containment and keeps ban on table, officials tell house panel
The Reserve Bank of India has strongly advised a prohibition strategy for crypto assets, recommending tha ...More
The Reserve Bank of India has strongly advised a prohibition strategy for crypto assets, recommending that banks and financial institutions be completely shielded from them. Officials argued that allowing exposure could legitimize speculative products with no economic benefit and pose financial stability risks. The RBI also questioned India's top crypto adopter ranking and warned stablecoins could threaten monetary sovereignty. ...Less
- Parliament Standing Committee on Finance to review Virtual Digital Assets; RBI, ICAI to take part
Parliament's Standing Committee on Finance is set to scrutinize the regulatory future of Virtual Digital ...More
Parliament's Standing Committee on Finance is set to scrutinize the regulatory future of Virtual Digital Assets (VDAs) on July 2nd. The committee will hear from the Reserve Bank of India regarding financial stability and money laundering concerns, followed by discussions with the Institute of Chartered Accountants of India on taxation and accounting. This crucial meeting aims to gather expert insights to shape India's approach to the burgeoning crypto ecosystem. ...Less
- EU bets on digital euro to cut US tech addiction
The EU believes a digital euro is the answer to cutting its addiction to US payment systems like Visa and ...More
The EU believes a digital euro is the answer to cutting its addiction to US payment systems like Visa and Mastercard as well as Apple Pay and Google Pay as the bloc seeks to favour European firms over others. According to the ECB, nearly two-thirds of card payments in the euro area are handled by non-European companies - mostly Visa and Mastercard. ...Less
- UK regulator considers opening Apple, Google app stores to rival payments
Britain's competition watchdog is proposing to let app developers direct users to cheaper payment options ...More
Britain's competition watchdog is proposing to let app developers direct users to cheaper payment options outside Apple and Google's app stores. This move aims to boost competition and reduce hefty app store fees. The regulator is also considering forcing Apple to open its contactless payment technology, potentially enabling rival services. Google has already made some concessions, while Apple expresses concerns about user security. ...Less
- Melania Trump Amazon documentary earnings: First Lady income disclosed as Donald Trump records multi-billion dollar cryptocurrency revenue
Donald Trump's crypto activities are the main reason for the near tripling of his personal fortune, which ...More
Donald Trump's crypto activities are the main reason for the near tripling of his personal fortune, which rose from $2.3 billion to $6.5 billion between 2024 and 2026, according to Forbes. ...Less
- China signs up 26 financial institutions to digital yuan cross-border payment platform
The agreement will allow participants to join the Cross-border e-CNY Transfer Services, or CBETS, an inte ...More
The agreement will allow participants to join the Cross-border e-CNY Transfer Services, or CBETS, an integrated cross-border settlement platform that supports round-the-clock digital payment links with foreign central banks and overseas financial institutions. ...Less
- Bringing in US dollars: RBI flags off FCNR(B) chase, pushes banks to go all out for forex inflows
In an ambitious bid to enhance India's foreign currency reserves, the Reserve Bank of India is urging ban ...More
In an ambitious bid to enhance India's foreign currency reserves, the Reserve Bank of India is urging banks to ramp up their efforts in attracting foreign currency non-resident deposits (FCNR(B)). By rolling out a series of enticing incentives for these deposits, the central bank aims to bolster dollar inflows, which will ultimately fortify the stability of the Indian rupee. ...Less
- RBI pushes banks to bring more dollars home
The push comes amid RBI measures to incentivise foreign currency inflows, including swap facilities and h ...More
The push comes amid RBI measures to incentivise foreign currency inflows, including swap facilities and hedging cost support for FCNR(B) deposits, aimed at strengthening forex reserves and easing pressures on the rupee. The rupee depreciated nearly 11% last fiscal year and touched a record low of 96.96 against the US dollar in May. It closed at 95.11 on Friday. ...Less
- Retail central bank digital currency in circulation falls by 24% in FY26
The value of retail central bank digital currency in circulation saw a significant drop of 24.08 percent ...More
The value of retail central bank digital currency in circulation saw a significant drop of 24.08 percent in 2025-26. Despite this, the Reserve Bank of India continued pilot use cases. Initiatives included direct benefit transfers and public distribution system subsidies. The RBI also explored asset tokenisation and cross-border payment collaborations. ...Less
- 'AI won't just moderate posts, it will curate reality': Former White House AI czar David Sacks warns against govt control of AI
David Sacks, chair of the President's Council of Advisors on Science and Technology and former White Hous ...More
David Sacks, chair of the President's Council of Advisors on Science and Technology and former White House AI and Crypto Czar, has criticized US Senator Bernie Sanders' proposal to give the public a 50 per cent ownership stake in major American AI companies, warning that government control of artificial intelligence could lead to a "CCP-style social credit system" in the United States. ...Less
- RBI highlights strong banking sector health, says lenders can withstand severe shocks
In the fiscal year 2025-26, India's financial landscape demonstrated remarkable stability. Both banks and ...More
In the fiscal year 2025-26, India's financial landscape demonstrated remarkable stability. Both banks and non-bank entities showcased solid balance sheets, reflecting a significant uptick in asset quality and sturdy capital reserves. With gross bad loans hitting their lowest levels in decades, comprehensive stress tests reaffirmed that banks are well-prepared for potential financial adversities. ...Less
- From lottery draws to fiscal spending, China broadens digital yuan footprint
In a series of measures, many revealed here for the first time, the People's Bank of China (PBOC) is givi ...More
In a series of measures, many revealed here for the first time, the People's Bank of China (PBOC) is giving banks policy incentives and behind-the-scenes directives to expand the use of digital yuan, also known as e-CNY, in areas ranging from lottery draws to green electricity charges and fiscal spending. ...Less
- RBI’s currency printing cost falls 23.5% in FY26 despite rise in cash circulation
Reserve Bank of India's spending on printing money dropped significantly. This happened even as the total ...More
Reserve Bank of India's spending on printing money dropped significantly. This happened even as the total value of currency in circulation grew. Higher denomination notes, especially the Rs 500 note, met this demand. Cash usage remains strong despite digital growth. The RBI plans to enhance banknote security and durability. ...Less
- RBI to explore CBDC pilot in cross-border transactions
The Reserve Bank of India (RBI) plans to expand its digital rupee pilot to more direct benefit transfer s ...More
The Reserve Bank of India (RBI) plans to expand its digital rupee pilot to more direct benefit transfer schemes and the domestic retail space in the current fiscal year. Additionally, the RBI is exploring the use of CBDC in cross-border transactions, signing MoUs and engaging in bilateral discussions for pilot projects. ...Less
- Tether to launch 'official' stablecoin in Georgia, with government support
Tether, a major stablecoin issuer, is set to launch a digital token for the Georgian lari. This move has ...More
Tether, a major stablecoin issuer, is set to launch a digital token for the Georgian lari. This move has the backing of Georgia's government, signaling the country's embrace of digital assets. The token, named GELT, aims to boost cross-border trade and fintech development. Georgia is already a significant player in cryptocurrency mining, and new regulations are attracting digital asset businesses. ...Less
- RBI ready to do 'whatever is required' to curb rupee volatility: Sanjay Malhotra
The Reserve Bank of India is ready to act to stabilize the foreign exchange market. Governor Sanjay Malho ...More
The Reserve Bank of India is ready to act to stabilize the foreign exchange market. Governor Sanjay Malhotra indicated the rupee may be undervalued. The central bank has tools and reserves to manage volatility. Inflation remains the primary focus for monetary policy. India's economic fundamentals are strong despite global pressures. ...Less
- How US President Donald Trump's crypto venture and Iran's top exchange tapped into the same industry networks
Iran's Nobitex exchange moved billions through Tron and BNB Chain, networks by Justin Sun and Changpeng Z ...More
Iran's Nobitex exchange moved billions through Tron and BNB Chain, networks by Justin Sun and Changpeng Zhao. These blockchains facilitated transactions for sanctioned Iranian entities. Meanwhile, Sun and Binance, Zhao's exchange, backed Donald Trump's crypto firm. This highlights potential conflicts with U.S. policy amid ongoing tensions. ...Less
- Zerodha's Nikhil Kamath suggests exploring gold-based stablecoins for India
Zerodha co-founder Nikhil Kamath questioned the long-term suitability of dollar-backed stablecoins for In ...More
Zerodha co-founder Nikhil Kamath questioned the long-term suitability of dollar-backed stablecoins for India and proposed exploring a gold-linked stablecoin. He said such a model could monetise idle household gold holdings while reducing dependence on dollar-dominated digital financial systems and supporting India’s strategic interests. ...Less
- Parent company of Trump's Truth Social reports $400 mn loss
TMTG, the firm behind Donald Trump's Truth Social, unveiled a troubling report showing a net loss of more ...More
TMTG, the firm behind Donald Trump's Truth Social, unveiled a troubling report showing a net loss of more than $400 million in the first quarter, primarily linked to a nosedive in cryptocurrency valuations. Earnings dipped below $1 million during this period, raising questions about the viability of its substantial investments in the crypto space. ...Less
- India's digital currency push targets its leaky welfare system
India is piloting its digital rupee, the e-rupee, for welfare payments. This initiative aims to improve e ...More
India is piloting its digital rupee, the e-rupee, for welfare payments. This initiative aims to improve efficiency and reduce corruption in government subsidies. Farmers like Samadhan Sonawane are receiving funds directly for farm equipment. Similar trials are underway for food distribution. The e-rupee offers programmable features to ensure funds are used as intended. ...Less
- India's digital currency push targets its leaky welfare system
While India's early efforts are modest compared with those of China, where more than 200 million people u ...More
While India's early efforts are modest compared with those of China, where more than 200 million people use the e-yuan, the world's most populous nation could in theory become its biggest CBDC issuer if the system gains traction. ...Less
- Crypto investor Katie Haun raises $1 billion for new funds, expands to AI agents
Former prosecutor Katie Haun has secured $1 billion for new venture funds, focusing on crypto and blockch ...More
Former prosecutor Katie Haun has secured $1 billion for new venture funds, focusing on crypto and blockchain companies, with a strategic blend of AI and financial services. Her firm, Haun Ventures, aims for global investments, leveraging her unique background in law enforcement and tech to navigate evolving markets and policy landscapes, despite past industry volatility. ...Less
- Inter-ministerial group suggests banning of private cryptocurrencies in India
It, however, pitched for introduction of an official digital currency with a status of a legal tender and ...More
It, however, pitched for introduction of an official digital currency with a status of a legal tender and appropriately regulated by the Reserve Bank of India. ...Less
- RBI launches digital currency retail sandbox
The Reserve Bank of India has launched a retail sandbox for its central bank digital currency (CBDC), ena ...More
The Reserve Bank of India has launched a retail sandbox for its central bank digital currency (CBDC), enabling fintech firms to develop and test solutions for the ongoing pilot. This initiative follows the commencement of the e-rupee pilot on December 1, 2022, which has already garnered approximately 7 million users in India. ...Less
- Counting on digital currency
As India wants to leverage its fintech startup space and reap the benefits of a digital currency -even as ...More
As India wants to leverage its fintech startup space and reap the benefits of a digital currency -even as it seems to have decided to recognise CBDC as the only digital currency - it would do well to exercise the same degree of caution while moving forward to roll out a CBDC. ...Less
- FM Nirmala Sitharaman assures investors of addressing pain points to encourage investments
Addressing a roundtable on 'Investing in India's Digital Revolution' in San Francisco, the minister encou ...More
Addressing a roundtable on 'Investing in India's Digital Revolution' in San Francisco, the minister encouraged constant engagement with investors to understand and address their concerns. The Finance Minister said she was open to receive suggestions, understand pain points and offer necessary redressal wherever possible. ...Less
- FBI to form digital currency unit, Justice Dept taps new crypto czar
Cryptocurrencies rely on blockchain technology, a database shared across a network of computers, in which ...More
Cryptocurrencies rely on blockchain technology, a database shared across a network of computers, in which records are difficult to change once added. ...Less
- Crypto card spending surges to $600 million monthly: How are crypto cards becoming one of 2026’s fastest-growing payment trends?
Crypto card spending growth 2026: Crypto cards are experiencing a surge in popularity, with monthly trans ...More
Crypto card spending growth 2026: Crypto cards are experiencing a surge in popularity, with monthly transaction volumes reaching approximately $600 million. This growth is driven by seamless integration with existing payment networks like Visa and Mastercard, enabling everyday spending of digital assets. ...Less
- Central banks, BIS develop digital currencies platform prototype
Codenamed “Project Dunbar,” the development also proves that financial institutions could use central ban ...More
Codenamed “Project Dunbar,” the development also proves that financial institutions could use central bank digital currencies to transact directly with one another on a shared platform, reducing the need for intermediaries and cutting costs and time. ...Less
- RBI e-rupee: How to use central bank digital currency
The e-rupee—India’s central bank digital currency (CBDC)—is issued in the same denominations as coins and ...More
The e-rupee—India’s central bank digital currency (CBDC)—is issued in the same denominations as coins and bank notes. Users may transact with it through a digital wallet offered by participating banks and stored on mobile phones or similar devices. Unlike savings bank account balance, the e-rupee does not earn any interest income. ...Less
- Wipro, R3 build blockchain-based solution prototype for digital currency in Thailand
The prototype aims to enable digital currency for interbank settlements for a consortium consisting of th ...More
The prototype aims to enable digital currency for interbank settlements for a consortium consisting of the Bank of Thailand and eight commercial banks in Thailand. ...Less
- Digital currency is more than just UPI, IMPS: How it can change your money transactions
Finance Minister Nirmala Sitharaman, in her Budget 2022 speech announced that the Reserve Bank of India ( ...More
Finance Minister Nirmala Sitharaman, in her Budget 2022 speech announced that the Reserve Bank of India (RBI) will be launching Central Bank Digital Currency or CBDC. The RBI is yet to come out with a framework for digital currency. Read on to know how Digital currency is likely to change the way you make transactions and digital payments. ...Less
- Digital currency to be launched as pilot project this year: RBI Deputy Governor
The RBI, he informed, is trying to calibrate policy on digital payments as per the feedback being receive ...More
The RBI, he informed, is trying to calibrate policy on digital payments as per the feedback being received from stakeholders. Highlighting the growing significance of digital payments segment in the country, Sankar noted that it was growing at the rate of 40 to 50 per cent per annum. ...Less
- RBI to issue Central Bank Digital Currency in FY23: FM Sitharaman in Budget
The move on CBDC comes at a time when there has been a huge shift seen towards private virtual currencies ...More
The move on CBDC comes at a time when there has been a huge shift seen towards private virtual currencies called cryptocurrencies. ...Less
- Countries closing in on digital currencies but US lagging: study
The research by the US-based Atlantic Council think tank highlighted that all G20 countries except for Ar ...More
The research by the US-based Atlantic Council think tank highlighted that all G20 countries except for Argentina are now in one of those far-along phases although, notably, the United States is falling increasingly behind. ...Less
- Blockchain billionaire Sun takes Trump family's crypto firm to court
Justin Sun is suing World Liberty Financial, a crypto venture co-founded by Donald Trump and his sons. Su ...More
Justin Sun is suing World Liberty Financial, a crypto venture co-founded by Donald Trump and his sons. Sun alleges the company illegally froze his token holdings, worth approximately $320 million. He claims World Liberty secretly installed tools to prevent him from selling his tokens. The company denies the allegations, calling them meritless. ...Less
- Crypto lender Genesis, parent firm DCG reach in-principle deal with creditors: court filing
Genesis filed for bankruptcy in January owing at least $3.4 billion to creditors and reached an agreement ...More
Genesis filed for bankruptcy in January owing at least $3.4 billion to creditors and reached an agreement in principle on a restructuring plan, supported by Digital Currency Group, and its primary creditors, including Gemini, in February. ...Less
- Govt eyes big push to digital currency programme, says official
According to M Nagaraju, secretary, department of financial services, ministry of finance, government sch ...More
According to M Nagaraju, secretary, department of financial services, ministry of finance, government schemes can give the central bank digital currency a strong boost. CBDC has been integrated into schemes, such as Subhadra Yojana, which supports women in Odisha, and the Delhi government's cash incentive scheme for women. ...Less
- No one-size-fits-all model for central bank digital currencies, IMF head says
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday ...More
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday looking at six nations including China, Sweden and the Bahamas where digital money is already up and running or at an advanced stage. ...Less
- Central banks of Honduras, Guatemala eye digital currencies as El Salvador launches bitcoin
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currenci ...More
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currencies with the aim of eventually introducing them into the economy, including via a central bank digital currency. ...Less
- Central banks of Honduras, Guatemala eye digital currencies as El Salvador launches bitcoin
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currenci ...More
The central bank presidents for Honduras and Guatemala both said the banks were studying digital currencies with the aim of eventually introducing them into the economy, including via a central bank digital currency ...Less
- G7 finance leaders lay out guidelines for central bank digital currencies
If issued, a central bank digital currency (CBDC) would complement cash and could act as a liquid, safe s ...More
If issued, a central bank digital currency (CBDC) would complement cash and could act as a liquid, safe settlement asset and an anchor for the payments system ...Less
- India to mull monitoring digital currencies to track crime
A federal government panel is examining options such as banning, regulating or limited intervention for v ...More
A federal government panel is examining options such as banning, regulating or limited intervention for virtual currencies in India. ...Less
- Quarles says proposals for Fed digital currency must clear high bar
The Fed official said the US central bank should study the pros and cons of potentially creating an offic ...More
The Fed official said the US central bank should study the pros and cons of potentially creating an official digital currency, a process the Fed is undertaking now. But he said any proposal to create a US central bank digital currency, or CBDC, must clear a "high bar." ...Less
- SWIFT to trial live digital currency transactions next year
SWIFT plans to trial live transactions of tokenised assets and digital currencies next year. The initiati ...More
SWIFT plans to trial live transactions of tokenised assets and digital currencies next year. The initiative aims to make trading quicker and more efficient. Despite banks exploring tokenisation, market adoption has been slow. Central banks are also testing digital currencies to facilitate these trades. ...Less
- Central Bank digital currencies to replace cash in the coming decade: report
The report, titled ‘Future of Money’, said CBDCs have the capacity to boost financial inclusion by offeri ...More
The report, titled ‘Future of Money’, said CBDCs have the capacity to boost financial inclusion by offering a safe and affordable means of making transactions for people with no access to traditional banking services. ...Less
- Twenty-four central banks will have digital currencies by 2030 - BIS survey
The past 18 months have seen turmoil in the crytpo market, including the failure of TerraUSD, an unbacked ...More
The past 18 months have seen turmoil in the crytpo market, including the failure of TerraUSD, an unbacked stablecoin, in May 2022, the collapse of crytpo exchange FTX in November and the bankruptcy of banks such as Silicon Valley Bank and Signature Bank, which serviced crypto providers. ...Less
- RBI panel to study feasibility of digital currency
Digital currency, backed by an asset such as gold or fiat is known as stable coin –– whose value is not a ...More
Digital currency, backed by an asset such as gold or fiat is known as stable coin –– whose value is not as volatile as cryptocurrencies like bitcoin or ethereum. ...Less
- India's digital currency to debut by early 2023
A top government source said the digital currency issued by the RBI would be numbered in units, just like ...More
A top government source said the digital currency issued by the RBI would be numbered in units, just like every fiat currency has an unique number. ...Less
- Digital currency to abet money laundering: Report
The growing use of digital currency will result in rise in cyber laundering as hacking attacks and online ...More
The growing use of digital currency will result in rise in cyber laundering as hacking attacks and online scams take centre stage on Internet. ...Less
- Proposed digital currency by RBI to speed up transactions, reduce cost of cash: Deloitte
As a financial services innovation, CBDCs are likely to play a pivotal role in shaping the 'future of val ...More
As a financial services innovation, CBDCs are likely to play a pivotal role in shaping the 'future of value transfer', the report said, adding that most central banks worldwide are now in various stages of their evaluation of launching their national digital currencies. ...Less
- After Mastercard, Visa offers central banks a way to test digital currencies
Visa will begin piloting a programme with blockchain software firm ConsenSys after discussions with 30 ce ...More
Visa will begin piloting a programme with blockchain software firm ConsenSys after discussions with 30 central banks about goals related to government-backed digital currencies, according to a Bloomberg report. ...Less
- Current status of digital currency of bitcoins
January 3 marked the seventh anniversary of Bitcoins. ET takes a look at the current status of this digit ...More
January 3 marked the seventh anniversary of Bitcoins. ET takes a look at the current status of this digital currency. ...Less
- Digital Currency: Potential and challenges
There are some risks, primarily cyber risks, associated with CBDC, although its introduction seeks to mak ...More
There are some risks, primarily cyber risks, associated with CBDC, although its introduction seeks to make business transactions easier. ET takes a look at the use cases and challenges CBDC could bring. ...Less
- RBI to adopt graded approach to introduce digital currency
The RBI said that it has been exploring the pros and cons of the introduction of CBDC in India and the ap ...More
The RBI said that it has been exploring the pros and cons of the introduction of CBDC in India and the appropriate design elements of CBDCs that could be implemented with little, or no disruption are under examination. ...Less
- FBI to form digital currency unit, Justice Dept taps new crypto czar
The creation of the FBI's "virtual asset exploitation" unit comes after the Justice Department's largest- ...More
The creation of the FBI's "virtual asset exploitation" unit comes after the Justice Department's largest-ever financial seizure earlier this month. ...Less
- Discussions on with RBI on crypto, digital currency: Sitharaman
"On crypto, I have said that we are in the process of consultation. Whatever decision the government is g ...More
"On crypto, I have said that we are in the process of consultation. Whatever decision the government is going to take, will be after the consultation," she said. ...Less
- No one-size-fits-all for central bank digital currencies: IMF
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday ...More
Roughly 100 countries are now looking at CBDCs, the IMF estimates, and it published a study on Wednesday looking at six nations including China, Sweden and the Bahamas where digital money is already up and running or at an advanced stage. ...Less
- Cred joins RBI's digital currency project; first fintech to give access to CBDC
Cred becomes the first fintech platform in India to offer access to the e-rupee, a digital currency launc ...More
Cred becomes the first fintech platform in India to offer access to the e-rupee, a digital currency launched by the Reserve Bank of India. The rollout will initially target a select set of users with YES Bank facilitating the issuance of e-rupee tokens. Adoption of the digital currency has faced challenges globally. ...Less
- What's the status of Central Bank Digital Currencies globally
For more such web stories click on the ET icon below ...More
For more such web stories click on the ET icon below ...Less
- Finance Minister Nirmala Sitharaman flags anonymity as 'inherent risk' in use of blockchain
Sitharaman said the distributed ledger technology is a beautiful technology which will help in democratis ...More
Sitharaman said the distributed ledger technology is a beautiful technology which will help in democratisation but flagged anonymity as an "inherent risk" which we need to guard ourselves from. ...Less
- View: Central banks could issue digital currency, compete directly with PayPal
Technology is enabling monetary authorities to give ordinary people access to a kind of electronic cash t ...More
Technology is enabling monetary authorities to give ordinary people access to a kind of electronic cash they have never had before. ...Less
- BoE and Treasury think UK is 'likely' to need digital currency -Telegraph
"On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital ...More
"On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future," the Telegraph quoted Bank of England Governor Andrew Bailey and finance minister Jeremy Hunt as saying in the joint report. ...Less
- US-Iran war: Tehran's central bank confirms Strait of Hormuz toll revenue deposited in cash
Iran's central bank has confirmed receiving transit fees for ships in the Strait of Hormuz. The revenue w ...More
Iran's central bank has confirmed receiving transit fees for ships in the Strait of Hormuz. The revenue was deposited in cash currency. Iran's Deputy Parliament Speaker stated the tolls are a rightful fee for using Iranian territorial waters. He also warned of consequences for aggressive US policies. ...Less
- Economic Survey 2023 sees RBI’s digital currency as a booster shot for financial services
The Survey said the introduction of Central Bank Digital Currency (CBDC) will provide a boost to digital ...More
The Survey said the introduction of Central Bank Digital Currency (CBDC) will provide a boost to digital financial services by laying the framework for “another generation of financial innovation”. ...Less
- Fidelity to allow clients to see digital currencies on website
The move will make the Boston-based asset manager one of a handful of large financial services firms to h ...More
The move will make the Boston-based asset manager one of a handful of large financial services firms to have integrated digital currencies into its website. ...Less
- Australia's central bank launches digital currency project
The digital currency project will seek to identify innovative use cases and business models that could be ...More
The digital currency project will seek to identify innovative use cases and business models that could be supported by the issuance of a CBDC. ...Less
- Nigeria to launch digital currency on Monday to enhance payments
The eNaira, which took several years to develop, will “make financial transactions easier and seamless fo ...More
The eNaira, which took several years to develop, will “make financial transactions easier and seamless for every strata of the society,” the Central Bank of Nigeria said in emailed statement on Saturday. The digital currency will complement the physical naira. ...Less
- RBI-backed digital currency coming soon in India
On the very first day of the winter session of the Parliament, the government received questions regardin ...More
On the very first day of the winter session of the Parliament, the government received questions regarding the looming ban of cryptocurrency and the RBI’s plans to introduce an official digital currency. ...Less
- Discussions on with RBI over digital currency: Nirmala Sitharaman
Sitharaman in her Budget speech on February 1 had announced that Digital Rupee or Central Bank Digital Cu ...More
Sitharaman in her Budget speech on February 1 had announced that Digital Rupee or Central Bank Digital Currency (CBDC) would be issued by the RBI in the coming fiscal year. She had also announced the government will levy 30 per cent tax on gains made from any other private digital assets from April 1. ...Less
- Discussions on with RBI on crypto, digital currency: Nirmala Sitharaman
Sitharaman, in her Budget speech on February 1, had announced that Digital Rupee or Central Bank Digital ...More
Sitharaman, in her Budget speech on February 1, had announced that Digital Rupee or Central Bank Digital Currency (CBDC) would be issued by the RBI in the coming fiscal year. She had also announced the government will levy 30 per cent tax on gains made from any other private digital assets from April 1. ...Less
- Time for central bank digital currencies to prove their worth
A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype y ...More
A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200 million users, India is gearing up for a pilot and some 130 countries representing 98% of the global economy are exploring digital cash. ...Less
- Digital currency wallets to be used for study loan subsidies
The government is collaborating with banks to implement a system for routing and settling interest subsid ...More
The government is collaborating with banks to implement a system for routing and settling interest subsidies on education loans through digital currency wallets. This initiative aims to integrate with the Unified Portal for Education Loan, enhance the efficiency of subsidy claims, and reduce fraud by using Central Bank Digital Currency (CBDC). ...Less
- CBDC to be implemented in phased manner for wholesale, retail segments: RBI official
New Delhi, Jul 20 (PTI) The Reserve Bank of India is in the process of implementing the Central Bank Digi ...More
New Delhi, Jul 20 (PTI) The Reserve Bank of India is in the process of implementing the Central Bank Digital Currency (CBDC) in a phased manner for the wholesale and retail segments, an official said on Wednesday. ...Less
- CCIL chief explains what financial markets will now need to keep pace with volatile geopolitics
Financial markets must become more agile and intelligent. CCIL Chairman Rajeshwar Rao highlighted the nee ...More
Financial markets must become more agile and intelligent. CCIL Chairman Rajeshwar Rao highlighted the need for stronger integration to face technological shifts and geopolitical challenges. Emerging technologies like AI will enhance efficiency and resilience. ...Less
- Blockchain not best for digital currency, experts say
On Tuesday, Finance Minister Nirmala Sitharaman, while presenting the Union Budget, mooted launch of a di ...More
On Tuesday, Finance Minister Nirmala Sitharaman, while presenting the Union Budget, mooted launch of a digital Rupee by RBI during 2022-23, “using blockchain and other technologies.” ...Less
- Don't scare digital currencies away
Nirmala Sitharaman, in her statement while moving the amendments, has clarified the tax on private digita ...More
Nirmala Sitharaman, in her statement while moving the amendments, has clarified the tax on private digital assets does not indicate GoI's stance on their legitimacy. ...Less
- A cross-border digital currency can speed up transfer, shows pilot
The multiple central bank digital currency bridge project (mBridge), joined by the monetary authorities i ...More
The multiple central bank digital currency bridge project (mBridge), joined by the monetary authorities in Hong Kong, Thailand, China and the United Arab Emirates, has achieved a prototype that reduces the time of international transfers to seconds from days when using the traditional correspondent banking, according to a BIS report Tuesday. ...Less
- Political ad blitz on Google; new use cases for digital currency
Data from Google Ads Transparency Centre shows that parties are shelling out nearly Rs 117 crore on the s ...More
Data from Google Ads Transparency Centre shows that parties are shelling out nearly Rs 117 crore on the search giant alone. This is against the Rs 10 crore spent on political ads in the runup to the 2019 general elections. ...Less
- India needs an RBI digital currency
Some degree of anonymity can, perhaps, be built into the blockchain-based model that identifies accounts. ...More
Some degree of anonymity can, perhaps, be built into the blockchain-based model that identifies accounts. A CBDC could prevent private payment system providers from monopolising transaction data, via the self-reinforcing loop of data, network externalities and activities, attracting ever more users. ...Less
- Federal Reserve’s digital dollar momentum worries Wall Street
Banks, credit card companies and digital payments processors are nervously watching the push to create an ...More
Banks, credit card companies and digital payments processors are nervously watching the push to create an electronic alternative to the paper bills Americans carry in their wallets, or what some call a digital dollar and others call a Fedcoin. ...Less
- Google, Amazon, Walmart-owned PhonePe seek to join RBI's digital currency project: Sources
Indian payment firms GooglePay, PhonePe, AmazonPay, and Indian fintech firm Cred are among five companies ...More
Indian payment firms GooglePay, PhonePe, AmazonPay, and Indian fintech firm Cred are among five companies reportedly seeking to join the Reserve Bank of India's digital currency pilot. The e-rupee, a digital alternative to physical currency, was initially allowed only by banks but has since declined to around 100,000-200,000 a day. ...Less
- RBI may come out with model on India’s digital currency by year-end
“We are evaluating the issue of scope, technology, distribution and validation mechanism etc.” Sankar sai ...More
“We are evaluating the issue of scope, technology, distribution and validation mechanism etc.” Sankar said. Earlier in July, Sankar had said that RBI is working toward a “phased implementation strategy” of CBDC in India where a pilot to test a general-purpose digital currency is a possibility in the near future. ...Less
- Govt, RBI actively engaged on digital currency: FinMin Nirmala Sitharaman
Finance Minister Nirmala Sitharaman stated that the government and the Reserve Bank are actively involved ...More
Finance Minister Nirmala Sitharaman stated that the government and the Reserve Bank are actively involved in enhancing the central bank digital currency (CBDC) for cross-border payments. The RBI initiated a pilot project for wholesale CBDC with nine banks, and a retail version of CBDC or e-rupee was launched on December 1, 2022. ...Less
- Fed's Brainard sees case for central bank digital currency
"These events underscore the need for clear regulatory guardrails to provide consumer and investor protec ...More
"These events underscore the need for clear regulatory guardrails to provide consumer and investor protection, protect financial stability, and ensure a level playing field for competition and innovation across the financial system," Brainard said. ...Less
- Cryptoverse: Digital coins lure inflation-weary Argentines and Turks
Ownership of digital currencies in Turkey was the highest in the world at 27.1% followed by Argentina at ...More
Ownership of digital currencies in Turkey was the highest in the world at 27.1% followed by Argentina at 23.5% -- well above global crypto ownership rate estimated at 11.9% -- according to data from research firm GWI. ...Less
- India's central bank proposes linking BRICS' digital currencies
India will host the summit, which will be held later this year. If the recommendation is accepted, a prop ...More
India will host the summit, which will be held later this year. If the recommendation is accepted, a proposal to link the digital currencies of BRICS members would be put forward for the first time. The RBI's proposal builds on a 2025 declaration at a BRICS summit in Rio de Janeiro, which pushed for interoperability between members' payment systems to make cross-border transactions more efficient. ...Less
- RBI proposes linking BRICS' digital currencies, sources say
India's central bank has proposed linking BRICS nations' digital currencies to facilitate cross-border tr ...More
India's central bank has proposed linking BRICS nations' digital currencies to facilitate cross-border trade and tourism payments, potentially reducing reliance on the U.S. dollar. This initiative, to be discussed at the 2026 BRICS summit, builds on previous calls for payment system interoperability among member states. ...Less
- Digital currency to further bolster digital economy, says RBI
Chaudhary was addressing an outreach seminar on 'Central Bank Digital Currency: The India Story' organise ...More
Chaudhary was addressing an outreach seminar on 'Central Bank Digital Currency: The India Story' organised by the Reserve Bank of India. The event was organised ahead of a two-day International Financial Architecture Working Group meeting of G20 slated to take place on January 30 and 31. ...Less
- Why central banks oppose crypto but explore own digital currencies
Digital payments like UPI are electronic instructions that authorise intermediaries such as banks to faci ...More
Digital payments like UPI are electronic instructions that authorise intermediaries such as banks to facilitate transactions. Even if they are ‘cashless’ modes of payment, they involve transfer of fiat money. Now imagine a UPI-like system where digital currency issued by a central bank is transacted instead of bank balances. The need for interbank settlement disappears and you can pay someone securely, without third-party risks. What if money itself could be ‘digital’? ...Less
- Central bankers lay out digital currency cyber threat
Around 130 countries are now exploring central bank digital currencies (CBDC) to keep up with technologic ...More
Around 130 countries are now exploring central bank digital currencies (CBDC) to keep up with technological change, but there are worries that the online nature of them could make them a major target for criminals and hostile states. ...Less
- Is it time for central bank digital currencies to prove their worth?
A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype y ...More
A few countries have introduced central bank digital currencies (CBDCs), China is trialling a prototype yuan with 200 million users, India is gearing up for a pilot and some 130 countries representing 98% of the global economy are exploring digital cash. ...Less
- RBI CBDC: Should you opt for the e-rupee over UPI?
CBDC is a legal tender issued by a central bank in digital form. It would be your regular, sovereign-back ...More
CBDC is a legal tender issued by a central bank in digital form. It would be your regular, sovereign-backed currency note, only in a digital format. ...Less
- Impact of CBDC on the financial system and economy of India
VDAs—such as cryptocurrencies, non-fungible or governance tokens, gaming coins, etc.—are still not recogn ...More
VDAs—such as cryptocurrencies, non-fungible or governance tokens, gaming coins, etc.—are still not recognised as either Indian currency or foreign currency. And, seeing the crypto market explosion from 17 to 90 million users over March 2021-2022 (Comscore.com, 2022), the govt had to take a regulatory step. ...Less
- View: Issuance of digital currency by India has many consequences from the perspective of tax policy
Using digital currency instead of fiat money would also be critical to tackling money laundering and tax ...More
Using digital currency instead of fiat money would also be critical to tackling money laundering and tax evasion effectively. Blockchain-based digital currency offers tools for the tax authorities to collect information that can help combat tax evasion. ...Less
- Digital currency rollout in FY23; govt in touch with RBI on borrowing
The Reserve Bank of India's digital currency is expected to be rolled out in the next financial year with ...More
The Reserve Bank of India's digital currency is expected to be rolled out in the next financial year with the requisite legislative changes having been proposed in the finance bill, economic affairs secretary Ajay Seth said in an interview. ...Less
- Twenty-four central banks will have digital currencies by 2030: survey
Some two dozen central banks across emerging and advanced economies are expected to have digital currenci ...More
Some two dozen central banks across emerging and advanced economies are expected to have digital currencies in circulation by the end of the decade, the Bank for International Settlements (BIS) found in a survey published on Monday. ...Less
- North Korean hackers suspected of $300 million crypto heist
A massive $300 million cryptocurrency heist, the year's largest, has been attributed to North Korea's not ...More
A massive $300 million cryptocurrency heist, the year's largest, has been attributed to North Korea's notorious Lazarus Group. This sophisticated cyberattack targeted KelpDAO, exploiting vulnerabilities in LayerZero's servers. The stolen funds likely fuel the rogue state's illicit nuclear weapons program, highlighting ongoing global cyber threats. ...Less
- China says to launch digital currency action plan
The "action plan" will see banks pay interest on balances held by clients in digital yuan -- a move to in ...More
The "action plan" will see banks pay interest on balances held by clients in digital yuan -- a move to incentivise broader adoption of the currency. ...Less
- Corporates join bitcoin-brigade to lobby for digital currency
There are an estimated 30K bitcoin holders in the country, currently in possession of 1% of around 12 mn ...More
There are an estimated 30K bitcoin holders in the country, currently in possession of 1% of around 12 mn bitcoins in circulation across the globe. ...Less