RBI governor addresses Bitcoin regulatory debate
The Reserve Bank of India (RBI) deputy governor Shri R Gandhi’s addressed two subjects - cryptocurrencies and crowdfunding. While he said the technologies have the potential to be disruptive, he was quick to note they could also have undesirable consequences if left unchecked.
Acknowledging that the technology can assist financial inclusion, Gandhi went on to say that cryptocurrency can help alleviate transaction settlement concerns.
India’s government disclosed in 2014 that the RBI was exploring digital currencies. Back in December 2013, the bank issued a warning on the subject and stated it was beginning to investigate the technology.
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