From ‘clear danger’ to outright ban, RBI's stance on cryptocurrency explained
The central bank has remained a critic of the digital currency and termed it a tool for money laundering, while warning users, holders, and traders of the security risks they are exposing themselves to
The Reserve Bank of India's stand on the cryptocurrency has been a tough spot for Indian investors. Over the years the central bank and regulatory body has warned virtual traders, holders of the digital currency. The Indian government that also backs the idea of banning private digital currency, seeks a digital currency backed by the Reserve Bank of India.