RBI Governor Calls Cryptos Worthless, Threatens India's Economic Stability
Mumbai: RBI Governor Shaktikanta Das on Thursday made it clear that private cryptocurrencies are a threat to macroeconomic and financial stability. Das reiterated the Reserve Bank of India's long-held position on digital assets, emphasizing the potential dangers they pose to the Indian economy.
NEW DELHI: Reserve Bank of India (RBI) governor Shaktikanta Das termed cryptocurrencies to be a clear danger and said that it has the potential to disrupt financial stability. Following the monetary policy committee’s decision to keep the key lending rates unchanged on Thursday, the Reserve Bank of India Governor once again voiced his concerns.
RBI Governor Shaktikanta Das stated on Friday that cryptocurrencies pose significant risks to both financial and monetary stability, warning that they could lead to a destabilizing impact. He specifically cautioned against the speculative nature of these assets and their potential to undermine monetary policy.
New Delhi: Reserve Bank Governor Shaktikanta Das on Thursday said cryptocurrencies are a threat to macroeconomic and financial stability and cautioned against investing in them. He argued that their underlying value is questionable, and their volatility makes them unsuitable as investment vehicles.
The Reserve Bank of India on Thursday reiterated its stance on cryptocurrency and said the digital asset is a huge threat to macroeconomic and financial stability. Das also highlighted the lack of regulatory oversight in the crypto space, making it vulnerable to illicit activities and financial crimes. RBI Governor Shaktikanta Das on Thursday made it clear that private cryptocurrencies are a threat to macroeconomic and financial stability, and undermine its established financial systems.
In a stark warning, Reserve Bank of India Governor Shaktikanta Das emphasized that cryptocurrencies represent a significant risk to India’s financial system. He concluded by stating that the RBI remains committed to safeguarding the country's financial stability and protecting investors from the inherent risks associated with cryptocurrencies.