An Overview of Bitcoin in India

The Reserve Bank of India’s (RBI) governor and two of its deputy governors had discussed bitcoin during a banking conference held in August.

During his speech, the RBI’s deputy governor Shri R Gandhi addressed cryptocurrencies and crowdfunding, saying both had disruptive potential, but needed to be controlled in order to avoid undesirable consequences.

As much as they were notable, Gandhi’s comments were also relatively inconclusive and added to the ongoing uncertainty about bitcoin regulation in the country.

This, however, was not the first time the Indian government or RBI representatives have spoken out about bitcoin.