RBI Guv flags crypto concerns, says it may hamper financial stability

RBI Governor Sanjay Malhotra on Friday said the central bank is concerned about cryptocurrencies as it can hamper financial stability.

Malhotra was replying to a question during a media interaction post the RBI monetary policy about the developments in the backdrop of the Supreme Court's observation on crypto currency last month.

"There is no new development as far as crypto is concerned. A committee of the government is looking after this. Of course, as you are aware, we are concerned about crypto because that can hamper financial stability and monetary policy," Malhotra said.

The Supreme Court has last month asked the Centre to formulate a "clear cut" policy on regulating cryptocurrency, while underlining its impact on the economy.