India to launch digital currency, remains cautious toward cryptocurrencies like Bitcoin that lack sovereign backing

ChainCatcher news, according to Aninews, India's Minister of Commerce and Industry, Piyush Goyal, revealed that India will soon launch a digital currency backed by the Reserve Bank of India (RBI) to leverage blockchain technology for faster and more secure transactions, similar to stablecoins in the United States. However, Piyush Goyal emphasized that the Indian government remains cautious about cryptocurrencies such as bitcoin that are not backed by sovereign entities, and pointed out that unregulated digital assets carry risks.