India takes a cautious approach to digital currency, with the Finance Minister emphasizing the need for proper regulation and government backing.
- The Finance Minister of India has emphasized the need for proper regulation and government backing in the digital currency market.
- The Reserve Bank of India is testing its retail and wholesale CBDC for cross-border payments.
- India plans to introduce cryptocurrency and AI lessons in schools to prepare students for the digital world.
In a recent event in Bengaluru, India, the Finance Minister of India, Smt. Nirmala Sitharaman has declared that India is not against financial technology but emphasized that when it comes to digital currency, it must be backed by either the government or the central bank. According to the Finance Minister, without their guidance, there is a risk of events like FTX, which caused massive spillover effects worldwide.