<p>Governor of the Reserve Bank Shaktikanta Das said on Thursday that “what is good for another market need not be good for us” and that the bank would not follow other banks’ lead when it comes to regulating cryptocurrencies. His comments are made in light of the US Securities and Exchange Commission’s approval of modifications that would enable the establishment of bitcoin exchange-traded funds in the US.</p>
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<p>“What works well for one market may not work well for another. Therefore, when it comes to rules pertaining to cryptocurrency, both the Reserve Bank’s and my own personal opinions remain unchanged, Das said. He was giving a speech at a BFSI event that the magazine Mint had organized.</p>
<p>In response to a question on whether he thought the next vote on account would cause inflation, he said that based on the current government’s track record, he did not believe that the interim budget would. The governor cited the many supply-side initiatives the administration has implemented since the start of the conflict between Russia and Ukraine to limit price increases.</p>
