May 22, 2024 3:51 PM

Citing lack of stability, RBI cautions retail investors against investing in cryptocurrencies

The Reserve Bank of India (RBI) has urged retail investors to exercise caution while investing in cryptocurrencies, warning that the crypto ecosystem lacks accountability and stability and is marked by regulatory ambiguity. In its monthly bulletin released Tuesday, the RBI said that the interest in cryptocurrencies is driven by speculative motives rather than as a mode of financial transactions. The RBI assessment aligns with a survey by the UK Financial Conduct Authority (FCA) revealing that ...