RBI looking into cryptocurrencies, 'not comfortable' with bitcoin


MUMBAI (Reuters) - The Reserve Bank of India (RBI) has a group looking into cryptocurrencies as legal tender, a senior official said on Wednesday, but emphasised the central bank's discomfort with bitcoin which has recently come under intense global regulatory scrutiny.

"Fiat will be when the Reserve Bank, for example, starts issuing digital currency which you can carry in cyberspace, you don't have physical currency in your pocket," Sudarshan Sen, an RBI executive director, said at a FinTech conference in Mumbai."As regards non-fiat cryptocurrencies,.....

This article is no longer available in our repository.

There could be multiple reasons for this.