DNA Explainer: Where India and the world stand on cryptocurrencies - RBI plans to launch its CBDC a digital form of fiat currency that can be transacted using wallets backed by blockchain and regulated by central bank.
The Centre is likely to bring a Bill in the winter session of Parliament to bar all cryptocurrencies in India, barring a few exceptions, and create a framework to regulate digital currency issued by the Reserve Bank of India (RBI). In response, all major digital currencies saw a fall of around 15 per cent and more, with Bitcoin down by around 18.53 per cent, Ethereum fell by 15.58 per cent, and Tether down by 18.29 per cent.