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cosmicbtc (OP)
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March 24, 2021, 05:08:40 AM
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What if India decides to link crypto with UPI?
We might have one platform where we have our bank account, wallet in which we can keep our digital currency asset(digital INR if the government issues it) and a crypto wallet.
I personally think India is the only country in which if RBI wants they can reach 200 billion people with there Digital form of INR by UPI distribution architecture.
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March 24, 2021, 05:24:55 AM
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The Unified Payment System (UPI) was created for the banks' fiat. If they will integrate BTC and other cryptocurrencies, they will have to act as an exchange too. It would be mandatory for them to convert crypto to fiat (vice versa) if you're going to utilize the UPI using BTC and other cryptocurrencies. That sounds too much for India's Central Bank who insists on barring accounts involved in crypto.
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