BWA Anticipates Tax Revisions Before Union Budget, Commends Indian Firms Embracing Web3

BWA Anticipates Tax Revisions Before Union Budget, Commends Indian Firms Embracing Web3

The Bharat Web3 Association (BWA) met with industry stakeholders in New Delhi on July 11, ahead of the upcoming budget announcement for FY2024-2025. During the meeting, Dilip Chenoy, the chairperson of this Web3 advisory body, said that the industry is ready to be patient and give the government enough time…

eRupee Sees Drop in Activity as Banks Pull Back on Promotion Efforts: Report

eRupee Sees Drop in Activity as Banks Pull Back on Promotion Efforts: Report

India’s eRupee CBDC, that is presently in its advanced trial period, is reportedly facing decline in terms of its usage. Citing sources familiar with the matter, a Reuters report has claimed that CBDC transactions that had hit the mark of one million transactions per day in December 2023, has dropped…

RBI Data Shows CBDC Wholesale Circulation Dropped, Retail Usage Sees Massive Jump: Report

RBI Data Shows CBDC Wholesale Circulation Dropped, Retail Usage Sees Massive Jump: Report

The Reserve Bank of Indi’s (RBI) eRupee or central bank digital currency (CBDC) is currently in an advanced trial phase with multiple national banks assisting the RBI in rolling out the digital currency. The usage of eRupee in the retail sector reportedly increased over the past year, according to data…

eRupee Sees Drop in Activity as Banks Pull Back on Promotion Efforts: Report

RBI Proposes Support for CBDC Distribution via Non-Bank Payment Operators

Several countries, including India, are expanding central bank digital currency (CBDC) trials, hoping to integrate then with their existing financial systems. The Reserve Bank of India has proposed the expansion of support for the digital rupee CBDC within the retail ecosystem beyond banks. In the coming days, the RBI is…

SWIFT Plans to Launch New Central Bank Digital Currency Platform Within Next Two Years

SWIFT Plans to Launch New Central Bank Digital Currency Platform Within Next Two Years

Global bank messaging network SWIFT is planning a new platform in the next one to two years to connect the wave of central bank digital currencies now in development to the existing finance system, it has told Reuters. The move, which would be one of the most significant yet for…

eRupee Sees Drop in Activity as Banks Pull Back on Promotion Efforts: Report

eRupee Recorded Rs. 5.7 Crore in Transactions in First Four Months of Retail Trials, Says RBI: Report

eRupee, the Indian central bank digital currency (CBDC), was reportedly used to process transactions worth Rs. 5.70 crore in the first four months since it entered the retail trials phase. The information was disclosed by the Reserve Bank of India (RBI) as it responded to an RTI query initiated by…

RBI Data Shows CBDC Wholesale Circulation Dropped, Retail Usage Sees Massive Jump: Report

India’s eRupee CBDC to Get Offline Payments Feature, Programmability Tweaks: RBI Governor

The Reserve Bank of India (RBI) is looking to adopt offline strategies to ensure that the eRupee CBDC enters the financial system of rural and remote parts of India. RBI governor Shaktikanta Das reportedly stated that the central bank plans to experiment with offline solutions to drive the adoption of…

NFT-Supporter Trump Vouches to Squash CBDC Creation in US if Re-Elected President

NFT-Supporter Trump Vouches to Squash CBDC Creation in US if Re-Elected President

The US, in recent years, has emerged as one of the most crypto-friendly nations in the world with more investors and merchants experimenting with digital assets there. At a time when the nation is conducting research and studies around the need and use-cases of the blockchain-based digital dollar CBDC, former…