Shaktikanta Das, head of the Reserve Bank of India, says that the best way to regulate the industry is to introduce gambling legislation to control digital assets.
Instead of speculative coins, RBI Governor Shaktikanta Das says CBDCs will address the growing 'cryptoization' of the economy while providing benefits in the financial and payments industry.
The Reserve Bank of India insisted on banning digital assets due to heightened risks, as it continues to warn potential investors of the consequences of jumping onboard the highly volatile market.
Reserve Bank of India Governor Shaktikanta Das reminded that before the market crash, the RBI had been warning of the risks involved in investing in digital currencies, according to local reports.
The project will be the country's first digital currency trial initiative according to the 25th Governor of the Reserve Bank of India, Shaktikanta Das.
