India will launch a digital currency and remains cautious about cryptocurrencies like Bitcoin that lack sovereign backing

ChainCatcher news, according to Aninews, India's 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 leverage blockchain technology for faster and more secure transactions, similar to the stablecoins in the United States. However, Piyush Goyal emphasized that the Indian government remains cautious about cryptocurrencies like Bitcoin that lack sovereign backing and pointed out the risks associated with unregulated digital assets.