Skip to main content

RBI Governor Says Government and Central Bank Agree on Cryptocurrency Approach

RBI Governor Says Government and Central Bank Agree on Cryptocurrency

RBI Governor Shaktikanta Das says that there is no difference of opinion between the Reserve Bank of India (RBI) and the finance ministry on cryptocurrencies. While the finance minister said that the government will not shut off all options and will take a calibrated position regarding crypto legislation, the central bank has voiced some “major concerns.”

No Difference of Opinion on Crypto Between RBI and Finance Ministry

RBI Governor Shaktikanta Das answered some questions regarding cryptocurrency, the digital rupee, and upcoming digital currency legislation Thursday at the India Economic Conclave organized by The Times Network.

There have been questions about whether the finance ministry and the central bank share the same view on cryptocurrency in India. While Finance Minister Nirmala Sitharaman has said that the government will not shut off all options regarding cryptocurrencies and will take a calibrated approach, the central bank has voiced “major concerns” about cryptocurrencies.

When asked during the Economic Conclave event on Thursday if there is a difference of opinion coming from the central bank and the finance ministry on cryptocurrency, the RBI governor affirmed:

I do not think the finance ministry or the Reserve Bank has given any different points of view … I have reasons to believe that the government is in agreement.

“I don’t think that is any difference of opinion,” Das reiterated, adding that “The central bank digital currency is one thing, while the cryptocurrencies which are being traded in the market are something else.”

The governor of India’s central bank emphasized that both the RBI and the government “are committed to financial stability,” elaborating:

We have flagged certain concerns around these cryptocurrencies which are being traded in the market. We have flagged certain major concerns to the government.

“It is still under examination and the government will come out with a decision sooner than later,” Das concluded.

What do you think about the RBI governor’s words about cryptocurrency? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3w1F540
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more