India to launch digital currency, says Piyush Goyal; discourages cryptocurrency "not backed by assets"

Babushahi Network

Doha [Qatar], October 7, 2025 (ANI): Union Minister Piyush Goyal stated that India does not encourage cryptocurrencies that lack sovereign or asset backing, such as those not supported by the Reserve Bank of India (RBI) or a local currency.

He announced that India will introduce a digital currency backed by an RBI guarantee, aimed at simplifying transactions, reducing paper usage, and enabling faster, traceable transactions compared to traditional banking.

"We have not been encouraging cryptocurrency, which does not have sovereign backing or which is not backed by assets, say it on the federal bank or local currency. India has also announced that we will be coming ou

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