On November 1st, RBI launched a pilot program for its digital currency, allowing a selected number of banks to settle secondary-market transactions in government assets. Within a month, certain places may test the e-rupee for retail use, according to the Reserve Bank of India. India is stepping up its opposition to private digital currencies as the launch occurs. This year, officials unveiled a new tax structure that drastically reduced volumes on cryptocurrency exchanges.
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All that you need to know about RBI’s launch of India’s first-ever Digital Currency
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