India’s central bank urges countries to prioritize CBDCs over stablecoins
India's central bank has called on countries to prioritize the development and implementation of Central Bank Digital Currencies (CBDCs) over stablecoins. The Reserve Bank of India (RBI) emphasized that CBDCs can enhance financial stability and reduce risks associated with private cryptocurrencies. The RBI's statement comes amid growing concerns about the regulatory challenges posed by stablecoins. The central bank believes that a coordinated global approach to CBDCs will be crucial in addressing these challenges effectively.
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