India decided to postpone a plan to issue Central Bank Digital Currency (CBDC), because "the government doesn’t want the digital currency anymore," The Hindu BusinessLine reports.
Even though the Indian’s central bank (Reserve Bank of India, RBI) released a report stating that cryptocurrencies do not pose, currently, a threat, India believes it’s too early "to even think about digital currency."
Last year, in October, the panel constituted by India’s finance ministry was considering bringing out its own cryptocurrency and support other cryptocurrency initiatives.
Back then, during the discussion of the panel, a senior government official proposed that India should implement the government-backed cryptocurrency and crypto-token, and encourage research and development of blockchain technology.
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