{"id":11992,"date":"2021-09-11T12:54:04","date_gmt":"2021-09-11T12:54:04","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/indias-central-bank-rbi-still-has-serious-concerns-about-cryptocurrency\/"},"modified":"2021-09-11T12:54:04","modified_gmt":"2021-09-11T12:54:04","slug":"indias-central-bank-rbi-still-has-serious-concerns-about-cryptocurrency","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/indias-central-bank-rbi-still-has-serious-concerns-about-cryptocurrency\/","title":{"rendered":"India\u2019s Central Bank RBI Still Has \u2018Serious Concerns\u2019 About Cryptocurrency"},"content":{"rendered":"

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has once again expressed concerns regarding the impact of cryptocurrencies on India\u2019s financial stability.<\/strong><\/p>\n

Crypto Presents \u2018Serious Concerns\u2019 to RBI<\/h2>\n

The Indian government is currently awaiting the Cabinet to take up the crypto bill. However, the country\u2019s central bank, the Reserve Bank of India (RBI), still has major concerns about cryptocurrencies. Governor Shaktikanta Das reportedly said Wednesday:<\/p>\n

We have serious, major concerns on cryptocurrency with respect to financial stability, [and] have conveyed the same to government of India.<\/p>\n

This is not the first time the RBI chief has voiced concerns regarding cryptocurrencies. In June, he similarly said<\/a>: \u201cWe have major concerns on cryptocurrency, which we have conveyed to the government. With regard to advice to investors, well, central banks don\u2019t give any investment advice. It\u2019s up to each investor to make his own appraisal, to do his own due diligence and take a very careful call with regard to his own investments.\u201d<\/p>\n

India\u2019s finance minister, Nirmala Sitharaman, said<\/a> in July: \u201cThe Cabinet note is ready. We have to see when the Cabinet can take it up and consider it so that then we can move it.\u201d<\/p>\n

<\/p>\n

However, the Economic Times reported last week that the Indian government is still working on how to regulate cryptocurrencies and is planning to treat them as commodities<\/a> and regulate per use cases.<\/p>\n

This week, the chairman of India\u2019s Parliamentary Standing Committee on Finance, Jayant Sinha, said<\/a> India\u2019s crypto legislation will be \u201cdistinct and unique\u201d due to the country\u2019s unique circumstances. It will not follow countries such as the U.S., Japan, or El Salvador which recently adopted bitcoin as legal tender<\/a>.<\/p>\n

Meanwhile, the RBI said it plans to unveil a digital rupee model by the end of the year<\/a> and launch in phases<\/a>.<\/p>\n

What do you think about the concerns voiced by the RBI governor? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nRegulation, crypto bill, Crypto law, cryptocurrency bill, cryptocurrency law, digital rupee, India, indian government, RBI<\/p>\n","protected":false},"excerpt":{"rendered":"

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has once again expressed concerns regarding the impact of cryptocurrencies on India\u2019s financial stability. Crypto Presents \u2018Serious Concerns\u2019 to RBI The Indian government is currently awaiting the Cabinet to take up the crypto bill. However, the country\u2019s central bank, the Reserve Bank of India…<\/p>\n","protected":false},"author":0,"featured_media":11993,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-11992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11992"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=11992"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/11992\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/11993"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=11992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=11992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=11992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}