Crypto technology as a means of payment is logical extension of fintech companies but challenges lies on its usage as an asset class and an alternative to currency, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Thursday.
Speaking on sidelines of Fintech Festival, Chandrasekhar said the whole world is grappling with the issue of crypto and has to come to an understanding on the ways and means to address it.
"Crypto as a means of payment is logical extension of fintech but crypto as an asset class and crypto as a substitute for currency is an area with which all currencies of the world and all regulators of the world are struggling with. We will find our way with prudence, caution. We have completely clear objective as to who will do crypto in India. The government has said that RBI will do crypto the digital rupee as first measure and then we see how market evolves," Chandrasekhar said.
Finance Minister Nirmala Sitharaman has said that the RBI has expressed...
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