The Reserve Bank of India on Thursday told a parliamentary panel that virtual digital assets like cryptocurrency are a threat to an emerging economy like India and such assets should not be legalised in the country. The RBI also told the Parliamentary Standing Committee on Finance, headed by BJP member Bhartruhari Mahtab, that China and Qatar are among the countries that have banned such financial activities, while Europe has allowed virtual digital assets in a very stringent, regulated manner. The committee held the meeting with the representatives of the RBI on 'A Study on Virtual Digital Assets (VDAs) and Way Forward'.