$BTC Despite the Supreme Court's Firm Opposition to the Ban, RBI Maintains Crypto Resistance

The Reserve Bank of India refuses to soften its stance on cryptocurrency regulation.

Reserve Bank of India (RBI) Governor Sanjay Malhotra confirmed that there would be no policy changes following the Supreme Court's recent guidance.

The #RBI continues to express concerns about potential risks to financial stability.

The effectiveness of monetary policy remains a primary concern for banking regulators.

Supreme Court Justices Surya Kant and N. Kotiswar Singh had previously stated that banning cryptocurrencies was not feasible.

According to the court's observations, developments in the global financial system are making the enforcement of the ban impossible.

The lack of suitable regulatory frameworks creates opportunities for abuse that could constitute a crime.

A government committee is currently reviewing cryptocurrency policy proposals.

The Reserve Bank of India has introduced new regulatory processes emphasizing public consultation.