He also revealed that they have informed the government of their concerns about cryptocurrency marketing. At the same time, the RBI has issued a circular in 2018 urging the government not to ban cryptocurrency marketing. Because it was rejected by the Supreme Court. The RBI said such a document should not be cited.
Digital money may be used for terrorism
The central bank has repeatedly noted a lack of confidence in digital money, such as bitcoin. The RBI warns that this could lead to terrorism and money laundering. The circular issued by the RBI three years ago banning cryptocurrency trading is no longer valid. RBI also has no right to advise investors. At the same time, the bank advises everyone to invest in cryptocurrency with caution.
