India's Digital Rupee: A New Era of Finance?
Update: 2025-10-07
Description
India is launching its own digital currency, backed by the Reserve Bank, to boost secure, transparent transactions and combat illegal activities. Minister Piyush Goyal unveiled the blockchain-based currency, drawing parallels to regulated US stablecoins, while emphasizing caution around volatile, unregulated cryptocurrencies like Bitcoin. This move balances India's crypto innovation with the need for a safe, reliable digital financial system for its massive population.
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