The post Crypto News: India Insists On Its CBDC Gamble, As It Doubles Down On Its Stance Against Crypto appeared on BitcoinEthereumNews.com.

India plans to roll out an RBI-backed digital currency for faster, safer, and transparent payments while limiting private crypto use.   India is preparing to roll out its RBI digital currency. The RBI is a state-backed initiative designed to make transactions faster, safer and more transparent. Union Minister of Commerce and Industry Piyush Goyal announced the move during his recent visit to Qatar. He explained that the project will be supported by the Reserve Bank of India (RBI) and will work as a reliable alternative to cash-based payments. RBI’s Push for Regulated Digital Money The central bank has long been skeptical about privately issued cryptocurrencies like Bitcoin. RBI officials have warned that unregulated assets pose risks to financial stability and investor safety. Goyal emphasised that India does not support digital currencies that lack sovereign backing or real asset support.  Glad to meet H.E. Mr. Abdulrahman Hesham Al-Sowaidi, CEO of Qatar Development Bank (QDB). Delighted to see the interest of Qatari businesses and investors in the opportunities offered by the rapidly growing Indian economy. Invited QDB to enhance collaboration in our growth… pic.twitter.com/X9GIW3nIy3 — Piyush Goyal (@PiyushGoyal) October 7, 2025 While the government has not banned crypto trading, it discourages its use by imposing strict rules and heavy taxes. India’s new RBI digital currency aims to be a regulated alternative. It will be faster to use than traditional banking systems and will reduce reliance on paper-based transactions. Goyal noted that the system’s traceability can also help prevent illegal activities like money laundering. Taxation and Oversight Keep Crypto in Check Despite India’s role in crypto adoption, the government has made it clear that private cryptocurrencies will remain under tight restrictions. Profits from crypto trading or transfers are taxed at a flat 30% with a 1% tax deducted at source (TDS) on transactions…

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Filed under: News - @ October 7, 2025 10:28 pm