How does the adoption of CBDC in India impact the cryptocurrency market?

1 answers

• Dec 26, 2021 · 3 years ago
  As a representative of BYDFi, a digital currency exchange, I believe that the adoption of CBDC in India will bring significant changes to the cryptocurrency market. CBDC can provide a more stable and regulated alternative to existing cryptocurrencies, which could attract more institutional investors and mainstream adoption. This could lead to increased liquidity and trading volume in the Indian cryptocurrency market. However, it is important for the government to strike a balance between regulation and innovation, to ensure that the market can continue to grow and evolve. Overall, the adoption of CBDC in India has the potential to reshape the cryptocurrency landscape and create new opportunities for investors.
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