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According to Decrypt, Indiana Congressman Kyle Pierce has said that while bitcoin is the first crypto asset, the legislation should not only benefit BTC. The crypto bill he introduced this month is deliberately broad, with no market cap threshold, avoiding "picking winners and losers" in the legislation. Pierce emphasized that the goal is to promote the entire crypto market, rather than locking in Bitcoin, Ethereum or Tether. Unlike states like New Hampshire, the bill does not set 5...
According to Financefeeds, the Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has made it clear that India will not adopt the US "GENIUS Act" or other G7 countries' stablecoin regulatory frameworks. The RBI believes that dollar-pegged stablecoins pose a fundamental threat to India's monetary sovereignty, which could lead to "dollarization" and reduce the effectiveness of the country's monetary policy. The Reserve Bank of India has stressed that the country already has efficient digit...
The deputy governor of the Reserve Bank of India said in public remarks that stablecoins could exacerbate the risk of local currency dollarisation, weaken emerging economies' ability to regulate capital flows and pose a threat to monetary policy independence. In addition, their circulation could push up the cost of credit, triggering a currency substitution effect. Foreign stablecoins could lead to the loss of seigniorage revenue in many countries.
The governor of the Reserve Bank of India has expressed caution towards cryptocurrencies and stablecoins.
The deputy governor of the Reserve Bank of India said that the launch of a stablecoin would raise a number of avoidable policy issues.
The Reserve Bank of India (RBI) on Wednesday launched a retail sandbox project for its central bank digital currency (CBDC), allowing fintech companies to develop and test related solutions in existing pilot schemes. The news was announced by the RBI's Chief Managing Director, Suvendu Pati. The Reserve Bank of India's first retail version of the digital rupee (e-rupee) pilot project was launched on December 1, 2022.
Reserve Bank of India official: The risk of asset tokenization is manageable and can be dealt with through regulatory guardrails.
Five traders said the Reserve Bank of India was likely to sell dollars on Thursday to support the rupee, which has come under pressure from persistent asset outflows and is hovering near record lows. State-owned banks offering dollars around 88.70 was likely to represent RBI action, traders said. "There is a central bank presence around 88.68-88, but it's very weak and they're not active," said one trader at a state-owned bank.
Trader: India's central bank may sell dollars to support the rupee before the local cash market opens.
Film studio Eros used AI to create new ending for 2013 movie without director's consent, igniting debate over artistic integrity and AI ethics.
