Law, policy and other developments in 2022 relating to the Web3 sector in India. International International call for robust regulation and supervision of crypto assets: The Financial Stability Board (FSB) of which India is a member issued a statement amid the recent volatility in the crypto market, stressing the need for robust regulation and supervisionRead more
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An analysis of whether India really needs a central bank digital currency. The United States wants to ‘get it right than to be first’. That’s what Jerome Powell, US Federal Reserve’s chairman said about the digital Dollar two years ago. The United States still doesn’t have a central bank-backed digital currency (CBDC). Meanwhile in India, RBI just piloted the digital RupeeRead more
In this blog post, we take a look at the key highlights from the Union Budget 2022-23, as tabled by the Union Finance Minister in the Parliament of India on 01 February 2022. On 1 February, Indian Finance Minister Nirmala Sitharaman (FM) announced the Union Budget (Budget) for FY 2022-23 and described its key takeawaysRead more
Central banks across the world have started exploring Central Bank Digital Currency (“CBDC”). In a recent survey by the Bank of International Settlements[1], 80% of the 66 banks surveyed were engaged in research and pilot projects related to CBDC, including Canada,[2] USA[3] and Singapore[4]. In fact, as of May, 2020 China has started testing itsRead more