RBI Governor Shaktikanta Das
RBI governor Shaktikanta Das also said that he believes that that the Centre seems to be in sync with the central bank’s stance on cryptocurrencies
India’s stance on cryptocurrencies has not always been much accommodative, and Reserve bank of India governor Shaktikanta Das on Monday, May 23, made it clear once again. The RBI governor said that the central bank had for long been cautioning against crypto, and it has now crashed.
Shaktikanta Das said people would have raised questions after the cryptocurrency market crash had the RBI been regulating the digital assets by now. “We have been cautioning against crypto and look at what has happened to the crypto market now. Had we been regulating it already, then people would have raised questions about what happened to regulations,” Das told CNBC TV18 in an exclusive interview — his first after a mid cycle repo rate hike.
“This is something whose underlying (value) is nothing. There are big questions on how do you regulate it. Our position remains very clear, it will seriously undermine the monetary, financial and macroeconomic stability of India,” the RBI Governor added.
He also said that he believes that that the Centre seems to be in sync with the central bank’s stance on cryptocurrencies that they have no underlying value.
“We have conveyed our position to the government and they will take a considered call. I think the utterances and statements coming out from the government are more or less in sync. They are also equally concerned,” Das said.
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