RBI Governor Shaktikanta Das sounded alarm on cryptocurrencies, cautioning investors on the potential pitfalls of digital currency.
He said Cryptocurrencies are a very serious concern from a macroeconomic and financial stability point of view.
Shaktikanta Das’s comments come at a time when the craze for cryptocurrencies is growing among Indian investors, especially the retail ones.
The craze for cryptocurrencies in India has grown after Supreme Court overturned the RBI order, which effectively lifted the ban on cryptocurrency trading in India.
The central government is yet to enact a law on cryptocurrencies. It is in consultation with industry experts and other stakeholders over the issue.