RBI On Cryptocurrency: Reserve Bank of India Governor Shaktikanta Das once again opened his mouth about cryptocurrency. He gave a message to investors about crypto restrictions. The total number of crypto investors in India is around 2 crores.

Reserve Bank of India (RBI) Governor Shaktikanta Das gave a big shock to nearly 2 crore investors in the country. RBI Governor has once again come out against cryptocurrency. He said that there are many risks in such investments. And that’s why there are no plans to lift restrictions on crypto. Shaktikanta Das claimed in this context, ‘There is no reason to think that what is good for other markets will be good for us.’ He clarified, ‘My personal opinion on this matter and the opinion of the Reserve Bank are the same.’

In an event on Thursday, the RBI Governor said, ‘The Reserve Bank’s stance on cryptocurrencies will not change. It is a very dangerous road. If asked my personal opinion, it is not fair at all. I think that no developed country in the world will be affected by cryptomania.’

Why is the RBI governor worried about crypto?

RBI Governor Shaktikanta Das has always expressed concern about cryptocurrencies. Last year also speaking about crypto, he said that RBI will not relax restrictions on cryptocurrencies. He described cryptocurrency as a serious threat to the economic stability of all countries. He claims that crypto is very dangerous especially for developing countries like India. Recently, he again clarified that the previous ban on cryptocurrency will not be lifted considering its risks.

The country’s own digital currency has been launched

The RBI governor said, ‘We have created our own digital currency by keeping digital currencies like cryptocurrencies away. It is currently being used for bulk payments and transactions, but in the future, efforts will be made to move it to retail customers. Currently, our UPI system is slowly spreading across the world and we will also benefit from it.’

On the other hand, a recent report by domestic cryptocurrency exchange Coinswitch claimed that the total number of crypto investors in the country was 1.9 crore by the end of 2023. Among them, maximum number of investors are from Delhi. Then there are cities like Bangalore, Mumbai and Hyderabad in the list. Notably, 75 percent of investors in this crypto are under the age of 35.