RBI remains cautious on crypto, backs underlying technology: Governor Malhotra

The Reserve Bank of India (RBI) has expressed caution towards cryptocurrencies, citing concerns about monetary sovereignty and capital flows. However, RBI Governor Sanjay Malhotra has also shown support for the underlying technology behind cryptocurrencies, such as distributed ledger technology and tokenisation. This indicates that India is open to innovation in these areas, but remains wary of the potential risks associated with cryptocurrencies themselves. The RBI's stance suggests a cautious approach to the growing use of digital assets in the country.

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India's central bank is cautious about cryptocurrencies due to concerns about their risks. The bank supports innovation in underlying technology, but this does not extend to cryptocurrencies themselves.

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