MUMBAI : Disclosing the inputs it sent to the government on cryptocurrencies at this juncture could affect India’s economic interests, the Reserve Bank of India (RBI) said, amid calls by its leadership to ban private digital assets.

Responding to Mint’s right to information (RTI) query, the central bank also cited a 2016 Supreme Court judgement to claim such information was exempt from being “prematurely" disclosed under the RTI Act.

RBI governor Shaktikanta Das has repeatedly warned the public about the pitfalls of cryptos, and deputy governor T. Rabi Sankar has even likened it to a Ponzi scheme.

Meanwhile, deputy governor Michael Patra said on 23 February that RBI’s views about cryptocurrencies might have delayed proposed legislation on the matter, PTI reported.

“Keeping in view the fact that the matter is now pending before the central government and considering the subject matter of the information sought, parting with the recommendations/inputs/opinion/suggestion sent to the central government at this stage may have an adverse effect in the economic interest of the state," RBI said in its response on 3 March.

The government, while declaring it would tax digital assets, is yet to make its stand clear on how it plans to regulate such assets. Crypto stakeholders met the tax proposal with euphoria, seeing it as a step toward legitimacy. However, the government later clarified that taxation does not mean cryptos have become bonafide.

Central banks worldwide have warned against privately issued cryptocurrencies for reasons ranging from volatility in value to risks to financial stability, even as they work on plans to launch their digital currencies.

While RBI is unlikely to deviate from its public stance, made through