New Delhi, Dec. 12 -- Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar on Friday said a complete ban on cryptocurrencies is "under consideration" and the final decision will be made by the government after receiving feedback from various stakeholders.

Speaking at the Mint Annual BFSI Conclave 2025, the RBI deputy governor opined that cryptocurrency is not really a currency because it does not have the basic features of money. He described it as 'just a piece of code,' which is not even a financial asset or any kind of asset at all.

Rabi Sankar explained why these tokens don't qualify as money. "Cryptocurrencies have no intrinsic value. They are not backed by a promise to pay, and they have no issuer. Their value is purely specu...