India plans to double down on CBDC, reaffirms stance against crypto: report

India intensifies its commitment to Central Bank Digital Currency (CBDC) development while maintaining a firm anti-cryptocurrency stance, according to recent government reports. The Indian government continues to discourage Bitcoin and other cryptocurrencies through heavy taxation policies, reinforcing its preference for state-controlled digital currency solutions over decentralized alternatives.

This regulatory approach positions India's CBDC as the government's preferred blockchain-based payment system, directly competing with popular cryptocurrencies like Bitcoin and Ethereum. The policy creates significant market implications for crypto traders and DeFi platforms operating in one of the world's largest economies.

India's dual strategy of promoting CBDC adoption while restricting cryptocurrency trading through punitive taxation demonstrates the country's cautious approach to digital asset regulation. This stance affects global cryptocurrency markets, as India represents a massive potential user base for blockchain technology and digital payments.

The government's reaffirmation of anti-crypto policies signals continued regulatory uncertainty for cryptocurrency exchanges and investors in the Indian market, while simultaneously accelerating the nation's push toward government-controlled digital currency infrastructure.