{"id":1604,"date":"2024-10-24T14:46:35","date_gmt":"2024-10-24T14:46:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1604"},"modified":"2024-10-24T14:46:35","modified_gmt":"2024-10-24T14:46:35","slug":"india-mulls-ban-on-bitcoin-and-ethereum-in-favor-of-digital-rupee","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1604","title":{"rendered":"India Mulls Ban On Bitcoin And Ethereum In Favor Of &#8216;Digital Rupee&#8217;"},"content":{"rendered":"<div>\n<p>India is considering banning cryptocurrencies such as <strong>Bitcoin<\/strong> (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) and <strong>Ethereum<\/strong> (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/eth\/usd\">ETH<\/a>) in favor of its own <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/09\/40837533\/put-in-the-cbdc-russian-central-bank-targets-july-2025-for-widespread-digital-ruble-use\">central bank digital currency (CBDC)<\/a>, with key regulatory institutions advocating for the move. This comes as the government is preparing a discussion paper on the future of crypto regulation in the country.<\/p>\n<p><strong>What Happened: <\/strong>Quoting sources close to the situation, local news outlet Hindustan Times <a href=\"https:\/\/www.hindustantimes.com\/india-news\/cbdc-has-an-edge-on-bitcoin-ether-experts-to-govt-101729538716941.html\">reported<\/a> on Tuesday that consultations have strongly leaned toward prohibiting private cryptocurrencies, citing the significant risks they pose that government officials believe outweigh their benefits, including stablecoins pegged to assets like gold.<\/p>\n<p>\u201cCBDCs can do whatever cryptos do. In fact, CBDCs have more benefits than cryptos, minus the risks associated with private cryptocurrencies,\u201d a government official, who spoke under condition of anonymity, told the publication.<\/p>\n<p>The official raised further concerns about the instability of stablecoins, or cryptocurrencies typically pegged to fiat currencies, questioning their reliability &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41520321\/india-mulls-ban-on-bitcoin-and-ethereum-in-favor-of-digital-rupee\" alt=\"India\" mulls ban on bitcoin and ethereum in favor of rupee>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>India is considering banning cryptocurrencies such as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) in favor of its own central bank digital currency (CBDC), with key regulatory institutions advocating for the move. This comes as the government is preparing a discussion paper on the future of crypto regulation in the country. What Happened: Quoting sources [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1604","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1604"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1604\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}