RBI Governor Shaktikanta Das expressed that the central bank was concerned that cryptocurrencies may impact financial stability in Asia’s third-largest economy.
“We have some concerns about crypto that we have shared with the government,” he said in a TV interview. The government may plan to introduce India’s official digital currency that will be issued by the RBI according to its ‘Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.’
Banks were barred from supporting cryptocurrencies earlier as they were used as a means for fraud following demonetization. The Supreme court lifted the restrictions as the RBI did not provide with “semblance of any damage suffered.”
