RBI Governor Shaktikanta Das, on Wednesday, expressed his concern over the impact of cryptocurrencies. They are feared that cryptocurrency may have on the financial stability of the country. Blockchain technology is still supported. In an interview, he voiced out the major concerns related to cryptocurrencies. RBI has already filed a petition for the ban to the government. It is under consideration and they will soon make a decision with the involvement of the government and parliament.
He clearly stated that; blockchain technology is different. Therefore, the government is planning to make the best use of it in the coming future. But crypto has concerns over the financial stability angle and reported the same to the officials.
However, Mr. Das did not elaborate much. But the central bank in the past has issued concerns over money laundering and terror funding in the name of digital currencies.
Governor also said RBI is ‘all set in the game’, to launch its own digital currency. He said, “Central bank digital currency is a work in progress. RBI team is working on it, technology side and procedural side, how it will be launched and rolled out”. Henceforth, if this really happens, RBI will become a member of other central banks like one in China.
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