India continues to take a cautious stance on cryptocurrencies while encouraging the development and use of technologies that underpin crypto assets, Reserve Bank of India Governor Sanjay Malhotra said on Saturday. According to a report by PTI, the RBI Governor was speaking at the Kautilya Economic Conclave. Malhotra said that the country supports innovation involving distributed ledger technology…
Reserve Bank of India Governor Sanjay Malhotra expressed a cautious attitude towards cryptocurrencies while endorsing the advancement and utilization of technologies that underpin them, according to a PTI report. The RBI Governor made these remarks at the Kautilya Economic Conclave.
Malhotra highlighted the country's support for innovation involving distributed ledger technology and tokenization, noting that some of these technologies are being examined by the central bank through public-private partnerships. However, he emphasized that cryptocurrencies raise concerns related to monetary sovereignty, monetary policy, and capital flows, particularly for emerging economies.