Crypto currency is not good for the world: RBI Governor..!?

The RBI governor has again clarified his stance on cryptocurrency. bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) governor Shaktikanta Das said today that the central bank will not follow other countries on cryptocurrency rules. There is bad news for investors investing in cryptocurrencies residing in India. Those who expect any relief during or after the Budget on investing in cryptocurrency are in for a disappointment. The RBI governor has again clarified his stance on cryptocurrency. bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) governor Shaktikanta Das said today that the central bank will not follow other countries on cryptocurrency rules. He said that emerging markets and the world cannot cope with the 'crypto mania crypto craze'. Das said that what is good for other markets does not necessarily mean good for us. So, there is no change in India's views on cryptocurrency. With the RBI and individuals saying there is no change in opinion, this means that there will be no relief in cryptocurrency in india in the near future.
A Bitcoin Exchange Traded Fund (ETF) has been approved by US regulators. Responding to this, Das said that India's position on banks and cryptocurrency will not change. Addressing a financial sector seminar organized by business daily 'Mint' here, the RBI governor said that for emerging market economies and advanced economies, embarking on the path of cryptocurrency would be very difficult to overcome multiple risks. When asked about the US move on cryptocurrency, Das said, 'The question is why do you want to go that way? What are you going to get?'
"I don't want to comment on what the Comptroller of Foreign Affairs has done," he said. They know what is best for their country, but they have identified the risks involved in crypto investments and advised people to be very careful. Considering inflation, he said, considering past performance. He said he does not think the current government's interim budget will increase inflation. The governor noted several supply-side measures taken by the government to curb rising prices since the start of the Russo-Ukraine war.
Investing in Cryptocurrency

A large number of people around the world are investing huge amounts of money in cryptocurrency, also known as "crypto" or "token". The number of people investing in cryptocurrencies in india has increased significantly over the past few years. Cryptocurrency investors in various countries, including india, are awaiting regulation. While the crypto market has reached its peak, there are thousands of cryptocurrencies in the market. Bitcoin and Ethereum continue to dominate the cryptocurrency market. In the crypto market, Ethereum and Bitcoin account for more than two-thirds of the market capitalization.

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RBI governor

Sowmiya Sriram

11/01/2024 11:16 PM