Reserve Bank of India Governor: Cryptocurrencies pose risks to emerging economies

According to the Odaily, the Governor of the Reserve Bank of India stated that the bank's position on cryptocurrency remains unchanged and believes that it may pose significant risks to emerging economies. The Reserve Bank of India will expand the application of wholesale central bank digital currency to areas such as remittances, adding new fields to the pilot project for wholesale central bank digital currency, and is committed to promoting programmability of central bank digital currency in order to achieve cash transfers in retail sector.