RBI Governor Stresses Unique Approach to Crypto Regulations
Reserve Bank Governor Shaktikanta Das emphasized that India will not follow other countries’ lead when it comes to regulating cryptocurrencies. He stated that just because a particular approach works well in one market doesn’t mean it will be beneficial for India.
Das made these comments in response to the US Securities and Exchange Commission’s recent approval of bitcoin exchange-traded funds. He reiterated that the Reserve Bank’s stance on cryptocurrency regulations remains unchanged.
Focus on Domestic Factors
During a BFSI summit organized by Mint, Das also addressed concerns about inflationary pressures resulting from the forthcoming vote-on-account. He expressed confidence in the government’s ability to manage inflation, pointing to past measures taken to control prices since the Russia-Ukraine conflict began.
Hot Take: RBI Takes a Stand Against Global Crypto Trends
RBI Governor Shaktikanta Das firmly asserts that India will not blindly adopt global crypto trends. Instead, the central bank will carefully consider domestic factors and make decisions based on what is best for the Indian market. This approach reflects a commitment to protecting the country’s financial stability while maintaining control over its monetary policies.
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