India’s Central Bank Says It Has ‘Major Concerns’ About Crypto

From bnnbloomberg.ca

The Reserve Bank of India is concerned that cryptocurrencies may impact financial stability in Asia’s third-largest economy, a view that could shape looming regulations on the asset that is breaking price-records around the world. The monetary authority has conveyed these “major concerns” to the government, Governor Shaktikanta Das said in an interview to CNBC TV-18 Wednesday. Prime Minister Narendra Modi’s administration is proposing to prohibit all private cryptocurrencies in the country and create a framework for an official digital currency. The RBI had banned banks and other regulated entities from ... (full story)