RBI also has often expressed worries about cryptocurrencies creating macroeconomic and financial stability risks, but according to the governor of the central bank, the Reserve Bank of India is set to launch its CBDC by December.
Though, RBI has not provided an official schedule.
“The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” is on the agenda for the meeting.
“To create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India. The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”