RBI-backed CBDC likely to feature in crypto bill: official

New Delhi: The proposal for a central bank digital currency (CBDC) backed by the country’s banking regulator may be included in the upcoming bill to regulate cryptocurrency, a top government official told ET.

Terming the Centre’s bill as a response to the central bank’s concerns about macro-economic stability, the official in the know of discussions on the upcoming legislation said the “government’s response is not to ban cryptocurrencies but rather to provide cryptocurrency via the RBI.”