RBI remains wary of crypto, backs blockchain technology and tokenisation: Governor Malhotra

India has maintained a cautious approach towards cryptocurrencies while promoting the underlying technologies such as distributed ledger technology and tokenisation, RBI Governor Sanjay Malhotra said on Saturday.

Malhotra said India supports innovation in technologies underlying crypto assets, including distributed ledger and tokenisation, but remains cautious about cryptocurrencies due to concerns over monetary sovereignty, monetary policy and capital flows.