RBI concerned over cryptocurrency's impact on financial stability: Governor Shaktikanta Das
The RBI is concerned over the impact cryptocurrencies may have on the financial stability in the economy, and has conveyed the same to the government, Governor Shaktikanta Das said lately. "We have certain major concerns about cryptocurrencies. We have communicated them to the government. It is under consideration in the government, and I do expect, and I think sooner or later, the government will take a call, and if required, Parliament will also consider and decide," he said in an interview.
"I want to make it clear that blockchain technology is different. Blockchain technology benefits have to be exploited, that is another thing. But on crypto, we have major concerns from the financial stability angle, and we have shared it with the government. The government will consider and take a call," Das said.
While he did not elaborate further, the central bank had in the past expressed concerns on digital currencies being used for money laundering and terror funding. The government is planning to introduce a bill in Parliament to bar companies and individuals from dealing in cryptocurrencies while creating a framework for an official digital currency.