Cryptocurrency Statement from the Reserve Bank of India

India abstaining from the cryptocurrency market, which is increasing in popularity day by day, made statements about the sector. The Reserve Bank of India (RBI), which approaches the crypto sector cautiously and frequently raises risks, has issued another warning.

Warning to Crypto Investors from the Reserve Bank of India; Shaktikanta Das, Governor of the Reserve Bank of India (RBI), warned Cryptocurrency investors of the huge financial risks. Shaktikanta Das stated that he conveyed these risks, which he thought to threaten the economy, to the government. In particular, India, which plans to launch its own central bank digital currency (CBDC), continues to raise crypto sector risks and concerns frequently. The Governor of the Reserve Bank of India (RBI) has previously stated that crypto trading involves high risk and can lead to instability in the financial market. Speaking in Mumbai, Reserve Bank of India Governor Shaktikanta Das said, “We have already conveyed our stance on cryptocurrencies to the government. They pose great risks to financial stability. On all matters, there is constant interaction between the government and the Reserve Bank, including cryptocurrency issues.”