Shaktikanta Das, Governor of the Reserve Bank of India, stated at an event that he has great concerns about the crypto industry.
Das demands credible arguments about how assets such as Bitcoin (BTC) etc. contribute to the country’s economy.
While the recognition of crypto assets among the Indian people is quite good, the legal status of digital assets in the country remains unclear.
In April 2018, the RBI banned financial companies from dealing with crypto assets. However, the decision was lifted in 2020. However, the RBI maintains its anti-crypto stance.
The Indian government has been engaging in activities to the detriment of the crypto industry for many years. In particular, it plans to impose bans on its trading and mining.
Finance Minister Nirmala Sitharaman recently stated that the decision on crypto will be taken soon. Experts believe that anti-crypto activity will take a toll on the Indian economy.
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