RBI Reiterates Crypto Warnings Despite Supreme Court Pressure
The post RBI Reiterates Crypto Warnings Despite Supreme Court Pressure appeared on BitcoinEthereumNews.com. RBI maintains crypto caution, ignoring Supreme Court’s regulatory push forward. Supreme Court urges swift action, warns crypto ban is unrealistic. Crypto industry demands tax relief, warns India losing global edge. The Reserve Bank of India (RBI) has once again warned against the risks of crypto, emphasizing that its position remains unchanged. During the press conference that took place after the policy decision, Sanjay Malhotra, Secretary of the Department of Economic Affairs, announced it. In spite of pressures from the Supreme Court and constant policy debates, the RBI has not changed its serious concerns. Supreme Court Urges Swift Action on Crypto Regulation In Malhotra’s view, the central bank is still concerned about the impact of cryptocurrencies on the stability of finances and monetary policies. Until now, the Supreme Court’s announcement on crypto has not brought about any additional updates. According to him, RBI has kept a stable position on this topic. At the moment, a working group in the government is reviewing this issue. We keep monitoring the possible risks linked to crypto. Still, the Supreme Court of India pressed authorities to do something as soon as possible. Justices Surya Kant and N Kotiswar Singh recently pointed out in their observation that banning cryptocurrencies is not very realistic. Judges warned that banning crypto could hinder India’s growth in the evolving global financial sector. . They indicated that because there are no rules in place, people could misuse digital currencies and become confused. In reality, the court believes that the government has not taken enough action to make clear policies for digital assets. As a result of the uncertainty, there is confusion in the market, so investors and institutions find it tough to trust the system. At the same moment, the new framework to formulate and update financial regulations was put into…
The post RBI Reiterates Crypto Warnings Despite Supreme Court Pressure appeared on BitcoinEthereumNews.com.
RBI maintains crypto caution, ignoring Supreme Court’s regulatory push forward. Supreme Court urges swift action, warns crypto ban is unrealistic. Crypto industry demands tax relief, warns India losing global edge. The Reserve Bank of India (RBI) has once again warned against the risks of crypto, emphasizing that its position remains unchanged. During the press conference that took place after the policy decision, Sanjay Malhotra, Secretary of the Department of Economic Affairs, announced it. In spite of pressures from the Supreme Court and constant policy debates, the RBI has not changed its serious concerns. Supreme Court Urges Swift Action on Crypto Regulation In Malhotra’s view, the central bank is still concerned about the impact of cryptocurrencies on the stability of finances and monetary policies. Until now, the Supreme Court’s announcement on crypto has not brought about any additional updates. According to him, RBI has kept a stable position on this topic. At the moment, a working group in the government is reviewing this issue. We keep monitoring the possible risks linked to crypto. Still, the Supreme Court of India pressed authorities to do something as soon as possible. Justices Surya Kant and N Kotiswar Singh recently pointed out in their observation that banning cryptocurrencies is not very realistic. Judges warned that banning crypto could hinder India’s growth in the evolving global financial sector. . They indicated that because there are no rules in place, people could misuse digital currencies and become confused. In reality, the court believes that the government has not taken enough action to make clear policies for digital assets. As a result of the uncertainty, there is confusion in the market, so investors and institutions find it tough to trust the system. At the same moment, the new framework to formulate and update financial regulations was put into…
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