Reserve Bank of India Deputy Governor: Bitcoin should be regulated

Regulation | August 31, 2015 By:

Reserve Bank of India (RBI), deputy governor Subhash Sheoratan Mundra stressed the need to regulate cryptocurrency market in the country.

Mundra suggested that global coordination among regulators is needed to address the volatility and crime-related risks of digital currencies.

“These are the kinds of global innovations and by very nature and design. it will be something which would need a global coordination rather than a framework which can be location specific,” said Mundra.

These comments come days after RBI governor Raghuram Rajam remarked on the central bank’s policy toward digital currencies.

The Reserve Bank of India is India’s central banking institution, which controls the monetary policy of the Indian rupee.