RBI reiterates major concerns over cryptocurrency trading

The Reserve Bank of India reiterated its concerns over cryptocurrencies, clarifying its stance on digital assets just days after the regulator told banks to set aside a 2018 ban on trading.

The Reserve Bank of India reiterated its concerns over cryptocurrencies, clarifying its stance on digital assets just days after the regulator told banks to set aside a 2018 ban on trading.

Das’ comments come less than a week after the central bank told lenders, which are needed to help facilitate crypto trades, not to cite a 2018 RBI circular as a reason to prevent such transactions. The order, which has since been struck down by the Supreme Court, can’t be cited or quoted from, it said, though banks must continue with other routine due diligence measures on the deals.