Shaktikanta Das, Governor of the Reserve Bank of India (RBI), in an interview with ET Now, told people of the warning bells being rung by the Reserve Bank of India. from cryptocurrencies He said he convinced me to avoid it.
Reserve Bank of India Chairman Claims People Are Moving Away From Cryptocurrencies Thanks To His Warnings
In his statement, Das said the following about cryptocurrencies:
“I am happy to give these warning signals. Based on the examples, I am aware that many people do not invest in cryptocurrencies or turn away from cryptocurrencies due to the warnings and concerns of the Central Bank.”
Das also reiterated the view that cryptocurrencies could create problems in the central bank’s ability to manage monetary policy.
The Reserve Bank of India has repeatedly expressed its concerns about crypto. In February, RBI Vice President T. Rabi Sankar said that a complete ban on cryptoassets is perhaps the most viable option for India.
In 2018, the RBI had de facto prohibited Indian banks from supporting or dealing with crypto transactions. However, the Supreme Court of India overturned this decision in 2020.
The central bank is also said to be responsible for a covert ban that cuts payment processors from local crypto exchanges.
Das later explained in an interview with CNBC TV 18 that “I don’t want to comment on speculative observations made by other people”.
One semester bitcoin In India, where crypto assets are heavily used, the development of this technology has been hampered by a 30% tax on these assets and difficulties for crypto exchanges in the region.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!