National Bank of India Governor: Encryption supervision is a must

The chairman of the National Bank of India (SBI) expressed support for cryptocurrency regulation in an interview. He believes it is necessary to regulate the cryptocurrency. Rajnish Kumar, chairman of the National Bank of India, advocates the implementation of cryptocurrency regulation in India, although the government is considering a bill that prohibits all cryptocurrencies except cryptocurrencies issued by the state. When interviewed by PTI on Thursday, Kumar was asked about the cryptocurrency. He replied, "The world is moving in the direction of digitization. At some stage, a regulated cryptocurrency will be better than an unregulated cryptocurrency. Because the Internet also has a dark side. Digital currency may be abused. That's why regulation is a must.” He added that efforts are being made to apply technology such as blockchain to the operation of banks.