RBI Working on a Framework for Cryptocurrencies
Kolkata: The central bank seems to be preparing a policy on cryptocurrency, which is virtual money used as a medium of exchange in many countries including India, but is yet to be legalised here.
Cryptocurrencies, like bitcoin, use cryptography to secure transactions. RBI Deputy Governor NS Vishwanathan said on Friday that the policy is in the making.
“I can’t comment on a policy which is still in the making,” he said, responding to a query on whether RBI would encourage use of cryptocurrency, at an event organised by Merchants’ Chamber of Commerce.