Reserve Bank of India renews calls for crypto ban

Indian central bank officials have renewed efforts to ban crypto. Finance Minister Nirmala Sitharaman supported the motion during a parliamentary meeting on July 18, saying digital assets have a “destabilizing effect” on the “fiscal stability of a country.” The Reserve Bank of India (RBI) first attempted to ban crypto in April 2018, citing risks associated with “consumer protection, market integrity and money laundering, among others.”