Quote:
Originally Posted by Steve Clarke
I think their wanting to release their own CBDC, (Country Based Digital Currency) and set up regulations before they allow the market to fully take off. Regulations will surely happen in India, and almost everywhere else.
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No doubt they want a piece of the pie, and i am sure they (and all governments) are looking to protect any sales taxes revenue.
Digital currencies will cut into the credit card fees and wire transfer fees that banks and credit card providers currently enjoy as well.