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Cryptocurrencies Are A Clear Danger: RBI Governor Shaktikanta Das

Inc42 LogoInc421 mo ago

Cryptocurrencies Are A Clear Danger: RBI Governor Shaktikanta Das

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The report also estimated that the market value of crypto assets grew tenfold between early 2020 and late 2021, peaking at close to $3 Tn.

Highlighting other issues, the report said the growth of cryptocurrencies can circumvent restrictions on exchange rates and capital controls, adding that it can limit the effectiveness of domestic monetary policy transmission.

The central bank also said that cryptocurrencies can result in ‘dollarisation’ of the economy and impair financial stability.


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Article Details

Author / Journalist: Chetan Thathoo

Category: Startups

Topics: B2G News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-30, 16:09:19

News Timezone: GMT +5:00

News Source URL: inc42.com

Language: English

Reading Time: 5 minutes read

Article Length: 790 words

Coverage Area: India

Availability: Desktop Web, Mobile Web

News ID: 23250

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About Inc42

Inc42 Logo

Main Topics: Startups

Official Website: inc42.com

Update Frequency: 15 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 14h ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

News Language: English

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Publisher ID: #52

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