RBI Work­ing on a Frame­work for Cryp­tocur­ren­cies

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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.

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