Rajiv Chandrasekar, India's deputy information technology minister, said that the country would have no difficulties with cryptocurrencies as long as all applicable laws were followed.
This is in direct contrast to the statement of the Reserve Bank of the country (RBI), which advises people to stay away from any cryptocurrency transactions. The official stressed that the RBI proposed a total ban on crypto-assets because of the lack of proper regulation by the government and regulator. He said that blocking the development of digital assets would undoubtedly prevent India's technological progress. Shaktikanta Das, head of the RBI, demanded a total ban on cryptocurrencies because of their potential for speculation. Rajiv Chandrasekar's opinion was supported by Rabi Sankar, deputy governor of RBI, who said that the lack of standardized data registration rules prevents investors and supervisory authorities from obtaining accurate information about the activities of the crypto industry.
