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Indian Central Bank Wants Crypto Banned, Minister Says – BS

Sitharaman said because cryptocurrencies are borderless, any legislation to regulate or ban such assets will only be possible through global collaboration.


Australia plans to do a virtual stocktake of crypto holdings in the country before moving to regulate the sector.
Australia has wrestled for years with the question of how to regulate cryptocurrency. File photo: Reuters.

 

The Reserve Bank of India has expressed concern on cryptocurrencies and wants them banned because they can destabilize fiscal and monetary stability, Business Standard reported, noting that Finance Minister Nirmala Sitharaman told Parliament on Monday it wants international help to regulate crypto.

Sitharaman said because cryptocurrencies are borderless, any legislation to regulate or ban such assets will only be possible through global collaboration, the report added.

Read the full report: Business Standard.

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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