Reserve Bank of India governor Shaktikanta Das has once again came down heavily upon cryptocurrencies, saying that the digital assets can create a lot of financial instability in terms of the ability of the central bank to determine monetary policy. Das’ comments came in sync with his and the RBI’s general views on cryptocurrencies, which has been somewhat rigid since 2018. Reiterating his concerns over crypto assets, Das also said that they can lead to the dollarisation of economy.
“Crypto can create a lot of financial instability in terms of the ability of the central bank to determine monetary policy. It can also have an adverse impact on our exchange rate, on capital flows, on banking sector stability and the potential for being used as a tool for money laundering and for illicit transfer of money," he told ET Now in an interview on Tuesday, August 23.
The RBI governor said that he was happy to sound warnings about cryptocurrencies sent by the central bank, and that many people...
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...