RBI advises against legalising cryptocurrencies in India

According to a PTI report, the Reserve Bank of India has informed a parliamentary committee that cryptocurrencies present significant dangers to a developing nation like India and therefore should not be granted legal status. The central bank highlighted that nations such as Qatar and China have already prohibited these assets, while European countries maintain rigorous regulatory frameworks. Furthermore, the RBI cautioned that these digital currencies could potentially be exploited for illegal activities, including drug trafficking and the funding of terrorism.

by shortkt.com
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RBI advises against legalising cryptocurrencies in India | ShortKT