Indian Finance Minister Nirmala Sitharaman made statements that the Reserve Bank of India (RBI) wants to ban cryptocurrencies.
The world’s second largest internet market the country that has India, bitcoin (BTC) continues to maintain its pessimistic stance on the issue. Indian Finance Minister Nirmala Sitharamanmade statements reiterating the stance of the Reserve Bank of India (RBI) to ban cryptocurrencies. “There is no way positive legislation is possible unless there is an international cooperation” told. Sitharaman He continued his statements on the subject with the following words:
The Reserve Bank of India remains concerned about the destabilizing effect of cryptocurrencies on a country’s monetary and financial stability.
Written by Sitharaman written statementmember of parliament Thirumaavalavan Thol‘Fame answer to five written questions was made as Questions to the MinistryIt included whether the Reserve Bank of India has issued any notices restricting the use of cryptocurrencies in the country in the last 10 years and whether the government has any plans to enact any laws restricting the use of cryptocurrencies in India.
On April 6, 2018, the Reserve Bank of India issued a general prohibiting its regulated entities from transacting with cryptocurrencies. Not long after, this was generally overturned by the Supreme Court of India. Currently in the country There are no circulars prohibiting the use of cryptocurrencies.