Central Bank of India Governor Shaktikanta Das said that the next financial crisis will be caused by “private cryptocurrencies.” According to him, regulation for such assets is not enough, they should be banned.
“We believe that cryptocurrencies should be banned because if you try to regulate them and let them grow, then mark my words, the next financial crisis will be caused by private cryptocurrencies. They have no underlying value. They carry enormous inherent risks to our macroeconomic and financial stability. I have yet to hear any credible argument about what public good or public purpose they serve,” he said.
The term “private cryptocurrencies” is used to distinguish between central bank digital currencies (CBDC) and assets such as BTC and ETH.
India currently holds the presidency of the G20, which gives it the right to set the agenda.
Earlier, Indian Finance Minister Nirmala Sitharaman said that regulating crypto-assets should be an international priority.
Holpop News
Holpop News
India’s central bank governor says the next financial crisis will follow because of cryptocurrencies if they are not banned in time
posted on December 21, 2022 by holpop in Blockchain
