India’s central bank, the Reserve Bank of India (RBI), sees cryptocurrencies as “a clear danger.” However, the financial stability risks posed by crypto assets currently appear to be “limited.”
RBI on Crypto’s Danger and Financial Stability Risks
The Reserve Bank of India (RBI) released the 25th issue of its Financial Stability Report (FSR) Thursday. RBI Governor Shaktikanta Das wrote:
Cryptocurrencies are a clear danger. Anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name.
The RBI chief further opined: “While technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial stability has to be guarded against.”
The Indian central bank’s report explores financial stability risks posed by crypto assets, citing various studies, including the work by the Financial Stability Board (FSB). The report states:
The risks from cryptoassets to financial...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...