We have major concerns over cryptocurrencies: Das

We have major concerns over cryptocurrencies: Das

Mumbai: The RBI had first come out with a circular on the issue in 2018, cautioning people about investing in cryptocurrencies, which do not have any sovereign character.It had barred entities regulated by it from dealing in such instruments.

RBI Governor Shaktikanta Das on Friday made it clear that the central bank’s view on cryptocurrencies like Bitcoin remains unchanged and it continues to have ”major concerns” on the volatile instruments.

”There is no change in RBI’s position (on cryptocurrencies). Our circular clarifies the position very well,” Das told reporters in the customary post-policy press conference when asked if there has been a change in its view.

The RBI had first come out with a circular on the issue in 2018, cautioning people about investing in cryptocurrencies, which do not have any sovereign character.

It had barred entities regulated by it from dealing in such instruments. However, the Supreme Court in early 2020 struck down the circular.

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