RBI governor Shaktikanta Das said that the central bank has not changed its position about cryptocurrency and continues to harbor concerns. Das said that the RBI’s latest directive asking banks to ignore its 2018 circular cryptocurrency deals, was because lenders continued to cite the circular even after it was struck down by the Supreme Court.

is no change in the RBI’s position. Our circular clarifies the position very well. The Supreme Court has set aside the RBI’s circular issued in 2018. To our surprise, some banks were still citing the circular in their correspondence with customers, therefore we had to set the record straight,” said Das. Das said that the central bank has ‘major concerns’ around cryptocurrency and has communicated them to the government.