Cryptocurrency around the world is now skyrocketing. The RBI governor made the key remarks at a time when the central finance ministry is expected to take a key decision on cryptocurrency. What Comments made by Governor Shaktikanta Das? The value of cryptocurrency is growing worldwide. Is looming in the market very fast. At this point, the remarks made by RBI Governor Shaktikanta Das came to prominence. RBI said it was concerned that cryptocurrencies were likely to affect economic stability in India, which is emerging as the third-largest economy in Asia.
RBI Governor Shaktikanta Das said in an interview with a leading media house that he had already informed the government about the matter, Governor Shaktikanta Das said the government was ready to ban all private cryptocurrencies in the country and officially bring in digital currency. The RBI has banned the use of private cryptocurrency in 2018, citing fraudulent use of digital currency. However, the Supreme Court in 2020 quashed the orders issued by the RBI in response to a petition by the cryptocurrency exchanges. The central government, which has been trying to bring in private cryptocurrency and bring its own digital currency into the country, has been busy drafting a bill on them.
He said India would join the list of other countries with digital currencies in addition to the electronic yuan already in China. Experts are working on the technology related to this. Tesla shares have plummeted in the wake of recent comments by Elon Musk, Tesla’s chief executive officer on bitcoin prices. Many financial analysts believe that the RBI’s argument that allowing cryptocurrency will definitely have an impact on the country’s financial stability is true.