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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