After Strangling Bitcoin, India May Launch Its Own Cryptocurrency

After blowing hot and cold on bitcoin, the Indian government is considering bringing out its own cryptocurrency.

After blowing hot and cold on bitcoin, the Indian government is considering bringing out its own cryptocurrency.

A panel constituted by India’s finance ministry might soon recommend that the country launch a government-backed cryptocurrency.

“We are evaluating the government-backed cryptocurrency and crypto-token,” said a senior government official privy to the discussions of the panel. “And we are looking to develop and encourage our own research and development of blockchain technology,” the official added, referring to the digital infrastructure on which cryptocurrencies are based.

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