MUMBAI: Reserve Bank of India governor Shaktikanta Das on Wednesday stated the central bank has fears that cryptocurrencies could affect monetary security. He also explained that a central bank-issued digital currency is receiving RBI’s ‘full attention’ and is ‘very much in the game’.
In an interview to a personal Television channel, Das reiterated RBI’s assertion that whilst it experienced concerns about cryptocurrency, the IT driving bitcoins—the blockchain technology—could supply benefits to the fiscal sector.
The assertion by the RBI governor implies that in spite of a Supreme Court buy stopping RBI from limiting banks from working with cryptocurrency, the central lender is not totally persuaded. This expression of problem could discourage banking institutions from allowing Indians to offer with bitcoins or giving services to bitcoin exchanges.