Cryptocurrencies
India’s Central Bank Voices ‘Major Concerns’ About Crypto
- Cryptocurrencies may hurt financial stability, says RBI chief
- India for banning crypto, only allow official digital currency
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The Reserve Bank of India is concerned that cryptocurrencies may impact financial stability in Asia’s third-largest economy, a view that could shape looming regulations on the asset that is breaking price-records around the world.
The monetary authority has conveyed these “major concerns” to the government, Governor Shaktikanta Das said in an interview to CNBC TV-18 Wednesday. Prime Minister Narendra Modi’s administration is proposing to prohibit all private cryptocurrencies in the country and create a framework for an official digital currency.