India is about to launch a digital currency backed by the Reserve Bank of India

CoinFeed reported on October 7 that on October 7, according to Aninews, Indian Minister of Commerce and Industry Piyush Goyal revealed that India will soon launch a digital currency supported by the Reserve Bank of India (RBI) to use blockchain technology to achieve faster and safer transactions, similar to the United States' stablecoin. However, Piyush Goyal emphasized that the Indian government remains cautious about cryptocurrencies such as Bitcoin that have no sovereign support and pointed out that unregulated digital assets pose risks.