The Reserve Bank of India’s central board today discussed various aspects related to the central bank digital currency and private cryptocurrency.
The Reserve Bank of India’s central board today discussed various aspects related to the central bank digital currency and private cryptocurrency. The Central Board of Directors of the Reserve Bank, led by Governor Shatikanta Das, met today in Lucknow for the 592nd meeting of the Board of Directors. A statement issued by the central bank said: “The council reviewed the current local and global economic situation, emerging challenges and remedial measures.” “The board also discussed various aspects related to central bank digital currency and private cryptocurrencies,” she added, without revealing details. The meeting was attended by MPs Mahesh Kumar Jain, Michael Depabrata Batra, along with Dibasish Panda, Secretary of the Financial Services Department.
The central bank board meeting comes at a time when the government is expected to introduce a bill regulating private cryptocurrencies soon. Earlier last month, Reserve Bank of India Governor Das voiced concerns about cryptocurrencies, saying there are “much deeper issues” with virtual currencies that could pose a threat to the country’s economic and financial stability. The RBI governor then said: “When the RBI says, after due internal deliberation, that there are serious concerns about the macroeconomic and financial stability, there are deeper issues that need deeper and more informed discussions.”
The government was expected to introduce a bill regulating cryptocurrencies in the winter session, however, it may now be delayed. The Minister of Finance had stated that the bill would be presented to the House of Representatives after the approval of the Council of Ministers.
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