RBI Guv Das on Crypto Regulations: 'What's Good for Others May Not Be Good for Us'

Jan 11, 2024 12:52

RBI Governor Shaktikanta Das says India will not emulate other markets on crypto regulations, stating that what works elsewhere may not be suitable for India. He reaffirms the central bank's stance on crypto currencies.

Illustration: Uttam Ghosh/Rediff.com

Mumbai, Jan 11 (PTI) Reserve Bank Governor Shaktikanta Das on Thursday said the central bank will not emulate others on crypto currency regulations and asserted that "what is good for another market need not be good for us".

His remarks come against the backdrop of the US Securities and Exchange Commission approving changes to allow the creation of bitcoin exchange-traded funds in the US.

"What is good for another market need not be good for us. Therefore our views -- both that of the Reserve Bank and personally that of mine -- remain the same," Das said on crypto currency regulations.

He was speaking at a BFSI summit organised by the publication Mint.

To a question whether he sees the forthcoming vote-on-account to be inflationary, he said going by the past records of the present government, he feels that the interim budget will not lead to inflationary pressures.

The governor pointed to the many supply side measures that the government has taken to contain price rise since the beginning of the Russia-Ukraine war.