RBI wants to ban crypto but need this support – Katoch Tubes

rbi against  crypto adoption

About RBI

The Reserve Bank of India is the central bank of the nation that issues Indian Rupee and also behind the launch of CBDC

RBI banned crypto

RBI banned crypto in 2018. The ban was overturned by high court in 2020 after appeal from crypto community.

Why RBI against Crypto?

RBI do not consider crypto as a form of currency since it isn't issued by any central bank.

Risk with Cryptocurrency

RBI has a strong stand against cryptocurrencies. Acc. to it, crypto will disrupt the economy and also result in money laundering.

Statement from FM

Finance Minister of India while addressing the Lok Sabha stated that RBI wants to ban crypto but need global support from the nations.

Where is crypto heading?

Crypto industry crashed from $3 trillion to $870 billion this year. There's no sign of recovery and things will take longer to recover.

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