From August 1, the law will come into force, but CBDC won't work everywhere and it is not yet clear how this will work in practice.
I do not understand the idea of CBDC. The country does not want bitcoin to be legalized but since they see the people's interest in crypto coins, they decide to launch their own CBDCs. The government control CBDC with no control over the supply is a no threat to bitcoin.
Also when all the countries do not have their CBDC, how will they operate within the countries? One contury want to trade in fiat while other in CBDC
Or will the people be allowed to buy bitcoin through CBDC ?I don't see this model working well as of the developments till now