In an address following the Monetary Policy Committee meeting, RBI Governor Sanjay Malhotra underscored the central bank’s concern regarding cryptocurrencies. He clarified that there are no recent developments in this area but acknowledged a committee within the government is actively addressing the issue. Specifically addressing concerns about crypto’s impact on financial stability, he stated: “We’re concerned. Crypto could shake financial stability and monetary policy.” Malhotra also highlighted that while cryptocurrencies aren’t currently illegal in India, their regulatory framework remains inadequate, as there are no specific laws prohibiting them. 🚨 🇮🇳 BREAKING: New RBI Governor Sanjay Malhotra holds the line on crypto: 💬 “We’re concerned. Crypto could shake financial stability & monetary policy.” pic.twitter.com/PIecrpNEbo – The Crypto Times (@CryptoTimes_io) June 8, 2025