RBI Governor Discusses Crypto and Central Bank Digital Currency

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, spoke about cryptocurrency during a press conference on Thursday. He also talked about the prospect of an RBI-issued digital currency, when the time will be right for issuing one, and his view on private digital currencies.

Also read: Indian Supreme Court Wraps up Crypto Hearing for the Year

RBI Governor’s View on Cryptocurrency

RBI Governor Shaktikanta Das reportedly talked about cryptocurrency and central bank digital currency (CBDC) on Thursday at a customary post-policy press conference. The governor “made it clear that the RBI is completely against private digital currency, asserting the sovereign’s right over this function,” PTI reported. Das was quoted as saying:

The world over, central banks and the governments are against private digital currency because currency issuance is a sovereign function and it has to be done by the sovereign.