RBI stays cautious on crypto, backs underlying tech
In short
RBI Governor Sanjay Malhotra said India is still careful about cryptocurrencies, but it supports the technology behind them, including distributed ledger and tokenisation. He said this on Saturday and pointed to concerns about monetary sovereignty, monetary policy and capital flows.
The message matters for crypto rules, payments and possible digital currency use. It is not stated in the available reporting whether any new policy or timeline was announced.
What the reporting says
RBI Governor Sanjay Malhotra said India remains cautious on cryptocurrencies while supporting underlying technologies such as distributed ledger and tokenisation. The reported reason is concern over monetary sovereignty, monetary policy and capital flows, while domestic payments are already efficient and cross-border transfers may benefit from central bank digital currencies. What remains unclear is any policy change or timeline.
Why it matters
RBI Governor Sanjay Malhotra said India is cautious on cryptocurrencies while encouraging distributed ledger and tokenisation. The comments tie the stance to concerns about monetary sovereignty, monetary policy and capital flows. The reporting also says domestic payments are efficient, while cross-border transactions may benefit from central bank digital currencies. No new rule, deadline or enforcement action is stated in the available reporting.