RBI governor warns about cryptocurrencies, said it is dangerous for the economy

Cryptocurrency: RBI (Reserve Bank of India) has once again cautioned about cryptocurrency and termed it as a cause of concern. RBI Governor Shaktikanta Das has said that cryptocurrencies are extremely dangerous from the point of view of macroeconomic and financial stability of the country. RBI Governor said that he has given his feedback to the government regarding cryptocurrencies.

tampering with the number of investors

According to the RBI governor, he feels that an attempt is being made to exaggerate the number of investors investing in cryptocurrencies. More and more people are being added to trade in cryptocurrencies. This statement of RBI Governor has come when there is a tremendous craze among retail investors regarding cryptocurrencies. The number of investors trading in Cryptocurrency in the country has crossed 100 million.

ongoing discussions within the government

The craze of cryptocurrencies has increased in the country ever since the Supreme Court overturned the RBI’s decision to ban cryptocurrencies. On February 5, 2021, the RBI constituted an internal panel to suggest the model of digital currency of the central bank. The Government of India has not yet made any law regarding cryptocurrencies. But this issue is being discussed continuously with the stakeholders, officials and various ministries.

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