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India ready to embrace CBDC as ‘private cryptos hurt government revenues’
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Depending on which part of the world you live in, you will be able to gain access to not only cryptocurrencies, but also blockchain-related products. While a booming market has turned many countries into crypto-allies, some have remained cautious of its volatility, including India.
The push towards central bank digital currencies [CBDC] has been hailed by India’s regulators. However, they don’t seem to be in favor of private cryptocurrencies.
Subhash Chandra Garg, the former Finance Secretary of India, is of the view that if more global central banks launch their own digital currencies, the need for private cryptos will disappear. While the aim of cryptos is beyond the applications and goals of a CBDC, Garg believes that private virtual
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