No plans to introduce cryptocurrency in India: Pankaj Chaudhary

Insight Bureau: There is no plan to introduce cryptocurrency by the government yet, Minister of State for Finance Pankaj Chaudhary informed Rajya Sabha on Tuesday. Currently, cryptocurrencies are unregulated in India, he further said.

“RBI does not issue cryptocurrency. Traditional paper currency is a legal tender and is issued by RBI in terms of provisions of the RBI Act, 1994. A digital version of traditional paper currency is called Central Bank Digital Currency (CBDC),” he said.