Indian RBI governor has a different stance on crypto regulation

Indian RBI governor has a different stance on crypto regulation

Indian RBI governor has a different stance on crypto regulation than the government of India. Shaktikanta Das, the governor of RBI (Reserve Bank of India), has expressed his serious concerns about crypto regulations.

The increasing interest and investment of people in the crypto market are forcing countries around the globe to regulate it. Governments of different countries are trying to neutralize the impact of crypto by introducing their digital coin. India is also in this race of regulating the crypto market because it has been ranked 2nd in the list of countries where crypto is growing rapidly.

Indian RBI governor
The list of 9 countries for global crypto adoption according to data provided by chainalysis

Indian RBI governor has a different stance on crypto regulation:

Indian cabinet is waiting for the crypto bill and thinking about how to tackle this rising impact of crypto. The Reserve Bank of India (RBI) has declared its plan that will unveil a digital rupee model by the end of this year. If we look closely at the plan of launching digital coins, then one thing is for sure that the idea of a decentralized financial system fades away. Indian RBI governor has a different stance on crypto regulation.

The governor of RBI has reservations about crypto regulation and its impact on the Indian economy. He said:

We have serious, major concerns on cryptocurrency concerning financial stability, [and] have conveyed the same to the government of India.

Indian RBI governor still has a different stance on crypto regulation as reportedly he has expressed his reservations earlier in July. Jayant Sinha said that the legislation of India regarding crypto will be unique and distinct and we will not follow the policies of developed countries.

If the Indian policy government makes a crypto-friendly policy, then it will be a big leap towards the greater game of crypto which aims to change the financial system of this world.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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