Reserve Bank of India: "No change in cryptocurrency stance…concerns about potential risks"
Summary
- The Reserve Bank of India (RBI) stated that it is concerned about the potential risks that cryptocurrencies may pose to financial stability and monetary policy.
- Governor Sanjay Malhotra said that he has maintained a consistent stance regarding cryptocurrencies.
- He stated that there has been no new progress since the Supreme Court of India's decision related to cryptocurrency.
The Reserve Bank of India (RBI) announced that it is "concerned about the potential risks that cryptocurrencies may pose to financial stability and monetary policy."
According to local media such as The Times of India on the 7th (local time), Sanjay Malhotra, Governor of the RBI, held a press conference that day and stated, "We have maintained a consistent stance (on cryptocurrency)."
Malhotra's remarks are interpreted as taking into consideration the recent ruling by the Supreme Court of India. The Supreme Court of India recently issued the opinion that "banning cryptocurrencies is not a feasible option in light of the global development of the financial system." In relation to this, Governor Malhotra said, "There has been no new progress since the Supreme Court's ruling on cryptocurrency."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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