Blockchain Technology Must be Exploited but Major Concerns About Cryptocurrency, Says RBI Guv

The Reserve Bank of India (RBI) has "major concerns" about cryptocurrencies, Governor Shaktikanta Das said on Wednesday, flagging potential risks to financial stability.

Das said he had communicated his concerns to the government, which has largely opposed trading in private cryptocurrencies in recent years. He said the RBI's plans to launch its own digital currency remained a "work in progress".

"We have major concerns from the financial stability angle," Das told news channel CNBC-TV18 in an interview, adding that the RBI was "targeting to launch" a digital currency.