‘What is good for another market need not be good for us’, says RBI Guv Das on crypto regulations

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Reserve Bank of India Governor Shaktikanta Das on Thursday said the central bank will not emulate others on crypto currency regulations and asserted that “what is good for another market need not be good for us”.

His remarks come against the backdrop of the US Securities and Exchange Commission approving changes to allow the creation of bitcoin exchange-traded funds in the US.

“What is good for another market need not be good for us. Therefore our views—both that of the Reserve Bank and personally that of mine—remain the same,” Das said on crypto currency regulations.

Also read: Why the US bitcoin ETF approval is a game-changer for cryptocurrency

He was speaking at a BFSI summit organised by a media publication.

To a question whether he sees the forthcoming vote-on-account to be inflationary, he said going by the past records of the present government, he feels that the interim budget will not lead to inflationary pressures.

The governor pointed to the many supply side measures that the government has taken to contain price rise since the beginning of the Russia-Ukraine war.