RBI Seeks Legislation For Retail CBDC Users
In order to preserve their anonymity, users of India’s retail central bank digital currency (CBDC) will be able to remove any transactions from the network’s ledger, according to a highly placed source who spoke to CoinDesk.
Both the wholesale and retail CBDC pilots are now being carried out by the Reserve Bank of India (RBI). Now, the retail CBDC operates in at least 15 cities.
“The latest numbers show that more than 100,000 customers and 13 banks are participating in the pilot now,” the person said.
“We are working on how to ensure privacy is maintained in our CBDC,” the person said. “We are asking the government to provide a legal backing in the form of legislation that will allow customers to delete transactions to maintain anonymity if they so choose to.”
(With inputs from Shikha Singh)
You need to login in order to Like
