In favour of complete ban on cryptos: RBI to Central Board

New Delhi: The Reserve Bank of India (RBI) has given notice to its central bank. In fact, the information says that RBI is in favour of a complete ban on cryptocurrencies. If you look at the report of a famous website, it has been informed by the public about the discussion at the central bank board meeting last Friday. The report also revealed that a person told him that RBI made a detailed presentation to the board highlighting serious concerns related to exchange management with macroeconomic and financial stability. Further, the report said that the Board was appraised about RBI's stand on the matter.

The central bank also talked about the challenges in regulating these assets, which start abroad. RBI, on the other hand, said that these are available for trading on foreign exchanges, raising concerns about the unnamed transactions. Earlier RBI Governor Shaktikanta Das had said, "Cryptocurrency macro is a serious concern for RBI from the point of view of economic and financial stability.''

He had also said, "As a central banker, he has serious concerns about it and has shown it a black flag many times. According to the report, the other person told him that some board members had sought a balanced vote on these digital assets. He has asked for a major impact on the development and the financial sector in technical matters. In a statement last Friday, RBI had said that the board has also discussed several issues related to central bank digital currency and private cryptocurrency.

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