RBI Continues to Have Negative Stand on Crypto, Firms Plans to Launch Official Cryptocurrency

RBI governor Shaktikanta Das recently spoke about cryptocurrencies, confirming that RBI continues to have a negative stand on the asset class. RBI labeled all cryptocurrencies as private cryptocurrencies indicating that the regulators still have to catch up with all facets of the technology. However, RBI also confirmed plans that it is working on its own Central Bank Digital Currency (CBDC), on the lines of China. While it is good to launch India's official cryptocurrency, we have to regulate cryptocurrencies effectively to embrace the benefits of this technology.

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