Reserve Bank of India (RBI) Governor Shaktikanta Das said that the central bank will not follow other countries in regulating cryptocurrencies, emphasising that decisions taken in other markets may not necessarily be suitable for India. His comments were made in response to the recent approval by the US Securities and Exchange Commission for the creation of bitcoin exchange-traded funds (ETFs) in the United States.
"What is good for another market need not be good for us. Therefore our views—both that of the Reserve Bank and personally that of mine—remain the same," indicating a continued cautious approach to cryptocurrency regulations in India," said Das.
The governor was speaking at the BFSI (Banking, Financial Services, and Insurance) summit organized by a media publication.
In response to a question about the potential inflationary impact of the forthcoming vote-on-account, Das expressed confidence that, based on the government's past records, the interim budget would not lead to inflationary pressures. He highlighted the various supply-side measures taken by the government to mitigate the impact of the Russia-Ukraine war on prices.
(With PTI inputs)
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