Reserve Bank of India Shelves State-Backed Cryptocurrency108

The Reserve Bank of India has shelved its plan to launch a state-backed cryptocurrency amidst increased government pressure and concerns around money laundering.

It seems that regulatory clarity has evaded the crypto community in India, yet again. The country’s central bank announced it was looking at issuing its own digital currency back in April of 2018 and set up an interdepartmental group to conduct a feasibility study.

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