RBI Expressed Concern Over Cryptocurrency In India: FM Sitharaman

The FM Nirmala Sitharaman said the RBI has expressed concerns over cryptocurrencies. On July 18, Nirmala Sitharaman said, they should be prohibited as they can have a destabilising effect on monetary and fiscal stability. FM said, "In view of the concerns expressed by the RBI on the destabilising effect of cryptocurrencies on the monetary and fiscal stability of a country, the RBI has recommended for framing of legislation".