{"id":30060,"date":"2026-07-03T05:45:44","date_gmt":"2026-07-03T00:15:44","guid":{"rendered":"https:\/\/banitoday.com\/cryptocurrency-difficult-to-regulate-rbi-tells-parliamentary-panel\/"},"modified":"2026-07-03T05:45:44","modified_gmt":"2026-07-03T00:15:44","slug":"cryptocurrency-difficult-to-regulate-rbi-tells-parliamentary-panel","status":"publish","type":"post","link":"https:\/\/banitoday.com\/hi\/cryptocurrency-difficult-to-regulate-rbi-tells-parliamentary-panel\/","title":{"rendered":"Cryptocurrency difficult to regulate, RBI tells Parliamentary panel"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"e9jwa\">\n<div class=\"vdo_embedd\">\n<div class=\"GfdvZ\">\n<section class=\"_bIDB  clearfix id-r-component leadmedia undefined undefined  E9tg9 \" style=\"top:0px\">\n<div class=\"_bIDB\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">\n<div class=\"ypVvZ\">\n<div class=\"WGttI\"><img src=\"https:\/\/static.toiimg.com\/thumb\/msid-132147903,imgsize-1683438,width-400,height-225,resizemode-4\/-.jpg\" alt=\"Cryptocurrency difficult to regulate, RBI tells Parliamentary panel\" decoding=\"async\" fetchpriority=\"high\"\/><\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\n<p>NEW DELHI: RBI on Thursday made its stand over legalising cryptocurrency clear, amid fears that it can be a source of financing for crimes with transnational dimensions like drug trade and terrorism, persons familiar with the deliberations said after the central bank briefed a Parliamentary committee on virtual digital assets (VDAs).<span class=\"id-r-component br\" data-pos=\"2\"\/>A lawmaker said RBI also emphasised that VDAs are difficult to regulate, adding that there is a strong view that cryptocurrency can especially pose big problems for an emerging economy like India. Even a more developed economy like China has banned crypto, he said.<span class=\"id-r-component br\" data-pos=\"5\"\/>Asked if RBI is for legalising cryptocurrency, the standing committee on finance chairman Bhrtruhari Mahtab said, &#8220;No&#8221;. RBI is also of the view that tracking offshore entities involved in VDA trade poses a serious challenge for regulatory authorities, sources added. <!-- -->The central bank is a strong opponent to legalising crypto assets and has publicly stated its opposition. Thursday&#8217;s assertion is seen to be a firm no from governor Sanjay Malhotra, amid strong lobby seeking legitimacy for VDAs.<span class=\"id-r-component br\" data-pos=\"10\"\/>In contrast to RBI, the Institute of Chartered Accountants of India (ICAI) said VDAs present a set of strategic opportunities for India, if aligned with the country&#8217;s strengths in digital infrastructure, fintech innovation, and global services leadership. It called for a comprehensive VDA Law providing guidance on issuance, trading and custody that attracts institutional participants and strengthens investor protection, sources said.<span class=\"id-r-component br\" data-pos=\"14\"\/>&#8220;VDAs can significantly enhance India&#8217;s position in cross-border payments and remittances. Leveraging blockchain-based systems and stablecoins, India can enable faster, lower- cost, and more transparent cross-border transactions, complementing existing digital payment systems such as UPI,&#8221; it is believed to have said. This can strengthen India&#8217;s role as a global hub for efficient payment infrastructure, it added.<span class=\"id-r-component br\" data-pos=\"16\"\/>With a strong base of software talent and startups, India can drive development in areas such as blockchain applications, decentralised finance tech, and smart contract platforms, sources privy to ICAI&#8217;s view said.<span class=\"id-r-component br\" data-pos=\"18\"\/><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/cryptocurrency-difficult-to-regulate-rbi-tells-parliamentary-panel\/articleshow\/132147908.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: RBI on Thursday made its stand over legalising cryptocurrency clear, amid fears that it can be a source of financing for crimes with transnational dimensions like drug trade and terrorism, persons familiar with the deliberations said after the central bank briefed a Parliamentary committee on virtual digital assets (VDAs).A lawmaker said RBI also [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-30060","post","type-post","status-publish","format-standard","has-post-thumbnail"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/posts\/30060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/comments?post=30060"}],"version-history":[{"count":0,"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/posts\/30060\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/media\/30061"}],"wp:attachment":[{"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/media?parent=30060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/categories?post=30060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/banitoday.com\/hi\/wp-json\/wp\/v2\/tags?post=30060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}