Reserve Bank of India Continues Towards Cryptocurrencies: New Call

Shaktikanta Das, Chairman of the Reserve Bank of India (RBI), reiterated that Bitcoin (BTC) and cryptocurrencies should be banned, arguing that they interfere with central banks’ monetary policies and harm national sovereignty.

a local news agency January 14 According to the news of RBI President Shaktikanta Das, The Business Today in his speech at the event, one of the cryptocurrencies gambling tool and certainly financial instrument aspect not being regulated reiterated his call. President, cryptocurrencies openly unsubstantiated and the market to dollarization He noted that he was forced. Das is famous for describing cryptocurrencies “To Tulip Madness” also referred.

It May Shake Economic Balances

Most of the cryptocurrencies US Dollar Das pointed out that the transactions in an economy are in 20% of In the case of cryptocurrencies issued by private companies, the relevant central banks 20% control over you will lose suggested. Das central bank losing control of the nation’s sovereignty threatening implied that. In addition, these markets to dollarization President, who stated that he will push global economic balances He said it could cause him to be shaken.

If it is to be regulated, it should be gambled.

On the other hand, cryptocurrencies are an investment tool. not claiming that if cryptocurrencies need to be regulated, Das gambling category argued that it should be regulated under Das stated that every financial instrument should have a basis, and that even in the tulip craze, future tulip contracts are based on real tulips. With these words of the President 1630 in the Netherlands happening and soon its value thousands of floors above after a big sale collapse live to the tulip market referred to.

A year ago, the entire cryptocurrency market that you might collapse their statements about reminding das, FTX bankruptcy pointing out that this event is one of the bigger scandals to come. forerunner claimed to be.

CBDCs Are a Useful Technology

on the other hand Digital Central Bank Currency (CBDC) Commenting on technology, the president said that CBDCs ease of payment and cost quite in terms of beneficial and logical He claimed it was a system. RBI last year October per month of nine banks a CBDC test attended that you started had announced.

source site-10