Indian Banks to Pilot Tokenized Deposits as Finance Minister Hints at Regulation

Digital money is set to transform India's payments landscape. | Credit: Pexels. Key Takeaways India’s central bank has sought to suppress crypto adoption and favors CBDCs over stablecoins. In its latest pilot, the central bank is exploring tokenized deposits. Finance Minister Nirmala Sitharaman has argued that India should adapt to new forms of money. India’s courts and financial regulators have traditionally sought to suppress crypto in the country, restricting exchange activity and warning retai ...