The Reserve Bank of India has been openly voicing its concerns about cryptocurrencies for the past several years. And cryptocurrencies are considered a highly speculative asset from the central bank’s point of view.
In the foreword to the 25th issue of the Financial Stability Report (FSR) published last June 30, cyber risks are increasing as the financial system grows and everything is digitized; Therefore, more special attention is needed in it, said Das.
And, “we need to be very careful about the deeper dangers that cryptocurrencies pose. Cryptocurrencies are an obvious risk. “Anything that takes value on faith, without any fundamental evidence, is mere speculation in a sophisticated name,” Shaktikanta Das has said succinctly.
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