RBI official says legalizing cryptocurrencies will not benefit country’s economy
According to local media reports, officials from the Reserve Bank of India expressed reservations about incorporating cryptocurrencies into the country's economic framework during an interview, and believe that including them in regulated financial instruments will not bring any "benefits" to the economy. The Reserve Bank of India official also went on to say that due to their inherent volatility and speculative nature, cryptocurrencies are more like high-risk gambling products, and this view is consistent with the global skepticism surrounding the adoption of cryptocurrencies in mainstream finance.It is reported that the Reserve Bank of India's stance is an important consideration in the Indian government's formulation of its digital currency policy.
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