India to Ban Crypto? How ‘Digital Rupee’ Could Replace Bitcoin & Ethereum Soon

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India is nearing a crucial decision about the future of cryptocurrencies like Bitcoin and Ethereum. The government is considering a ban on these digital currencies while promoting its own Central Bank Digital Currency (CBDC), known as the digital rupee. This potential change has sparked conversations about the future of India’s digital economy, especially as the country explores the safer options offered by a state-backed CBDC.

Here’s all the details you need to know about this development.

While there has been no official announcement, many government officials believe the risks tied to cryptocurrencies—especially their potential for misuse—are too great. In contrast, the CBDC is seen as a solution that can provide similar benefits without the associated dangers.