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 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.