<span style="color: #222222;">Reserve Bank of India Deputy Governor T Rabi Sankar has cautioned investors on cryptocurrencies, stating that crypto-technology is created for the purpose of evading government controls and regulated financial system in a country.<br />''<br />''This comes after Union Finance Minister Nirmala Sitharaman said that discussions are on with the RBI on private cryptocurrency and central bank-backed digital currency (CBDC) and a decision will be taken after due deliberations. RBI Deputy Governor said, cryptocurrencies undermine financial integrity, especially the KYC regime and potentially facilitate anti-social activities.<br />''<br />''On February 10, RBI Governor Shaktikanta Das had cautioned investors, saying that private cryptocurrencies are a threat to macroeconomic and financial stability. He said that it will undermine the RBI's ability to deal with challenges.<br />''<br />''Finance Minister Nirmala Sitharaman, on February 1, had presented the Union Budget 2022-23 wherein she had announced that the Centre would impose a 30% tax on cryptocurrencies. During the Budget Session, she also introduced the digital currency to be issued by the RBI.</span><br />