india central bank looking into cryptocurrencies ‘not comfortable’
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

India central bank looking into cryptocurrencies, ‘not comfortable’

Arab Today, arab today

Arab Today, arab today India central bank looking into cryptocurrencies, ‘not comfortable’

India central bank looking into cryptocurrencies, ‘not comfortable’
MUMBAI - Arabnews

The Reserve Bank of India (RBI) has a group looking into cryptocurrencies as legal tender, a senior official said on Wednesday, but emphasized 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, I think, we are not comfortable with them,” Sen added.
The central bank had not previously disclosed its plans on cryptocurrencies and Sen did not provide any details on where discussions on the issue stand.
It was unclear whether the group at the RBI plan to issue a recommendation on cryptocurrencies to the government, or if the review is at an early or advanced stage.
Bitcoin is a digital currency that enables individuals to transfer value to each other and pay for goods and services by-passing banks and the mainstream financial system.
Bitcoin slid 6.6 percent on Friday, after reports that China was about to shut down local crypto-currency exchanges. On Tuesday, Britain’s Financial Conduct Authority (FCA) warned that initial coin offerings (ICOs), the practice of creating and selling digital currencies to finance start-up projects, are “very high risk” and speculative.
Jamie Dimon, chief executive of JPMorgan Chase & Co, also came out strongly against bitcoin this week dubbing it a “fraud”, and adding that it will blow up. The virtual currency, not backed by any government, has more than quadrupled in value since December to more than $4,100.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india central bank looking into cryptocurrencies ‘not comfortable’ india central bank looking into cryptocurrencies ‘not comfortable’

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india central bank looking into cryptocurrencies ‘not comfortable’ india central bank looking into cryptocurrencies ‘not comfortable’

 



GMT 05:57 2017 Tuesday ,29 August

Indonesia explores new, alternative tourism markets

GMT 12:19 2016 Thursday ,08 December

Kirk Douglas at 100, still in love

GMT 17:27 2017 Thursday ,05 October

Major Bowie exhibition to close in New York

GMT 00:13 2016 Friday ,10 June

After 11-month peak, oil prices take a breather

GMT 05:31 2017 Sunday ,05 November

Mexico makes 'major' 1.5-bn barrel oil find

GMT 04:11 2017 Thursday ,20 April

And the world’s ‘most beautiful woman’ is

GMT 11:40 2017 Thursday ,27 April

UN eyes new Yemen talks by end of May

GMT 05:19 2016 Saturday ,31 December

UAE tightens security for New Year celebrations

GMT 18:27 2017 Wednesday ,15 February

India should give Kashmiris right to self-determination

GMT 04:26 2017 Saturday ,26 August

Hany refuses $30000 offer to sing in Damascus

GMT 12:52 2017 Monday ,06 March

Air pollution linked to 600,000 deaths

GMT 01:14 2017 Friday ,17 November

Yemeni official says diabetics increased in Yemen

GMT 00:04 2017 Wednesday ,20 December

Kuwaiti cabinet sworn in before National Assembly

GMT 14:40 2015 Thursday ,08 October

Carlyle, Pictet launch fine art finance service

GMT 10:55 2015 Sunday ,06 December

Azerbaijan mourns 'many deaths' after oil rig fire
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday