“Cryptocurrency Is Threat to Financial Stability”- Indian Central Bank Governor

NEWS

RBI Governor Shaktikanta Das has once again dropped some bombs over the future of cryptocurrencies in India.

In a post-monetary policy briefing, he termed crypto a threat to macroeconomic and financial stability.

Indian Central Bank Governor Mr. Das has always been reluctant to the adoption of cryptocurrencies.

The central bank is worried about capital controls of Cryptocurrencies as anyone from anywhere can create them.

Issues like money laundering and terrorism financing have been the concern of the government regarding the use of digital tokens.

As far as cryptocurrencies are concerned, the RBI had made its stance very clear. Cryptocurrency is privately created & it is a threat to our financial and macroeconomic stability.

Investors in cryptocurrency should keep in mind that they are investing at their own risk. The cryptocurrency has no underlying, not even a tulip.