Journal Press India^®

Author Details ( * ) denotes Corresponding author

The evolution of money has undergone several phases, from barter system to digital currencies. The rapid rise in adoption of digital currency can be attributed to multiple factors: pursuit of lower operational costs associated with physical cash management, reduction of paper usage, promotion of financial inclusion. According to aggregate digitalization levels measured by CHIPS Economy, India ranks as third most digitalized nation globally. Cybercrimes associated with digital currencies include cryptocurrency mining malware, exploitation of anonymity inherent in cryptocurrencies, digital arrest. Robust cybersecurity measures: data encryption, security protocols for digital payment systems—are essential to mitigate those threats. India’s digital economy becomes a major driver of GDP growth and employment generation, it is projected to contribute nearly one-fifth of GDP by 2029–30. Policy recommendations for advancement of digital currencies emphasize need to establish clear regulatory frameworks, strengthen cybersecurity mechanisms, and develop adequate infrastructural support while ensuring financial inclusion and interoperability.

Keywords

Crypto currency; Central bank digital currency; CHIPS framework; Digital Rupee (e₹); Cross border transaction

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