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RBI Says Crypto Will Undermine Its Capacity to Regulate – ET


The Reserve Bank of India
Voicing concerns that cryptocurrencies could lead to dollarisation of a part of the Indian economy, RBI officials said that they pose challenges to the stability of the financial system, the report said. Photo: AFP.

 

The Reserve Bank of India has told the government that cryptocurrencies will undermine its capacity to determine monetary policy and regulate the monetary system, the Economic Times reported.

Voicing concerns that crypto could lead to dollarisation of a part of the Indian economy, RBI officials said that this could pose challenges to the stability of the financial system, the report added.

 

Read the full report: The Economic Times.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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