India plans to ban Bitcoin and Ether in favor of the Central Bank's digital currency
The Indian authorities intend to replace Bitcoin and Ether with the central bank's digital currency (CBDC), believing that it will provide greater stability and security for the country's economy, reducing the risks associated with decentralized cryptocurrencies.
Indian authorities are planning to ban popular cryptocurrencies such as Bitcoin and Ether in order to introduce a central bank digital currency (CBDC). The government believes that the CBDC will be able to perform the same functions, but with less economic risks. They are confident that such a step will bring stability and security to the country's financial system, preventing negative consequences associated with volatility and the use of cryptocurrencies for illegal transactions.
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