Cryptocurrency ban can be the most advisable option for India, says RBI Deputy Governor

The remarks are significant in response to the ongoing discussion over whether or not to prohibit digital currency. 

New Delhi: On February 14, Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar launched a scathing attack on bitcoin, saying that banning cryptocurrency is "probably the most sensible decision available in India."

Sankar mentioned this at the 17th Annual Banking Technology Conference and Awards hosted by the Indian Banks Association.

"We looked at the reasons put out by individuals who believe cryptocurrencies should be regulated and found that none of them stand up to scrutiny," Sankar added.