Reserve Bank of India Governor Shaktikanta Das has no love for crypto. In fact, he wants to get rid of it through an outright ban, saying that these “are nothing but gambling.”
Das said in his speech at a conference on Friday that RBI’s stance on cryptocurrency remains unchanged.
The bank official disclosed that digital currencies cannot be considered as a financial product and must be treated like “gambling activities.”
The RBI has been vocal about its opposition to such currencies and also took a lead over other central banks by launching its own central bank digital currency (CBDC) late last October.