Indian Finance Minister Nirmala Sitharaman explained that different opinions, including that of the Central Bank, have been sought on cryptocurrencies, “We have to make sure that something futuristic is not blocked.” said.
- In an interview with Hindustan Times, the Finance Minister talked about the decisions to be taken regarding cryptocurrencies and digital central bank money (CBDC).
- Referring to the people of El Salvador protesting the government after bitcoin (BTC) went into circulation, Sitharaman said, “The problem is not literacy or knowledge level. This how transparent a currency is also a problem. Would this currency be suitable for everyone? Maybe El Salvador, where some experiments were done it is an exceptional place” said.
- Some citizens, who oppose Bitcoin being considered a legal currency, took to the streets during the celebrations on September 15 for the 200th anniversary of the founding of El Salvador, and congratulated President Nayib Bukele. he is a dictator protested his statement.
- Cryptocurrencies need to be considered in detail Sitharaman, who said that it is a matter of “This period was like, ‘We don’t care what’s going on.’ It’s not a time you can say. Still, are we ready to follow El Salvador’s footsteps yet? We have to make sure nothing futuristic is getting in the way.” made a statement.
- While the Finance Minister was talking about whether India should develop its own digital currency, “We have to develop something that fits our systems. India has the power of technology, fintech gives us control of the tools we can play on, our economy is full of possibilities. In this case we should be cautious but still think it through” said.
- Shaktikanta Das, Governor of the Reserve Bank of India, announced that they could start piloting the national digital central bank currency later this year.