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The Chief of Singapore's central bank has unequivocally stated that private cryptocurrencies are unwelcome within the country's monetary framework
Finance Minister Nirmala Sitharaman on Saturday flagged anonymity as an "inherent risk" in blockchain technology and called for taking precaution
Private cryptocurrencies are also prone to frauds and to extreme price volatility, given their highly speculative nature, RBI said in its latest FSR report.
RBI has said that private cryptocurrencies pose immediate risks to customer protection, anti-money laundering and combating terrorism financing
The central bank has repeatedly expressed its strong views against cryptocurrencies, saying they pose serious threats to the macroeconomic and financial stability of the country.