Is it a bird? Is it a plane? At a 1992 World Cup match at The Gabba, commentators were at a loss as they wondered when and how South African cricketer Jonty Rhodes had sent Pakistan's Inzamam-ul-Haq back to the pavilion. It had all happened in a flash.
The Indian central bank's reaction to cryptocurrency is somewhat similar. Watching its spectacular rise, the Reserve Bank of India (RBI) is wondering: Is it a currency? Is it a payment system? Is it an asset? The difference is that it's not a flash. Blockchain data platform Chainalysis says crypto investments in …