According to the Economic Times, the Central Bank of India (RBI) is considering the possibility of issuing its own digital currency as an alternative to Bitcoin.
The bank expressed its dissatisfaction with digital currencies such as Bitcoin, calling them “hidden money”.
The Bank’s Executive Director, Sudarshan Sen, said:
“I think we are not comfortable with non-Fiat digital currencies. Bitcoin for example. This is a secret digital currency. That’s why we continue to work to create an alternative to the Indian Rupee.”
India’s central bank is constantly issuing warnings to the public about the use of digital currencies like Bitcoin. According to the bank, these currencies carry potential risks.
‘The potential is overstated’
On the other hand, R Gandhi, one of the bank’s senior officials, stated that the potential of digital currencies has been exaggerated and that their current value is just speculation. said.