Shaktikanta Das, Chairman of RBI, Reserve Bank of India cryptocurrencies She continues to make negative comments about him. The President of the RBI, who could not break his prejudice, declared that cryptocurrencies are speculative assets and equated it with gambling, according to the news reflected in the local press.
Das reiterated today that they will never accept cryptocurrencies as a financial product, telling local media outlet India Today.
“The valuation of cryptocurrencies is entirely up to the imagination. These virtual things make absolutely no sense other than speculation. Crypto is clearly a gamble. We do not allow gambling in our country. The presentation of cryptocurrencies as a financial asset is completely misleading.”
“Crypto is a Threat to the Financial Industry”
The Indian government official argued that cryptocurrencies pose a great threat to the traditional financial sector as they have no real value. Das believes that with the full release of cryptocurrencies, the Central Bank will have problems with money supply control.
“People see cryptocurrencies as a financial product. However, there is no value generated. Therefore, perception does not reflect reality.”
While Das maintains his firm stance on cryptocurrencies, he warms to blockchain technology.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!