RBI: Cryptocurrency Is a Big Threat to Macroeconomic and Financial Stability in India
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The governor of India’s central bank, the Reserve Bank of India (RBI), has reiterated his concerns that cryptocurrency is a “big threat” to the country’s financial and macroeconomic stability. He…
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Key Highlights RBI says cryptocurrencies have no intrinsic value, issuer or promise to pay, and are driven purely by speculation. Stablecoins could weaken monetary policy, banking stability and lead to dollarization, the RBI warns. India is pushing a sovereign-backed digital rupee (CBDC) as a safer alternative to private crypto. The…
The Reserve Bank of India (RBI) is aligning its central bank digital currency (CBDC) design with monetary policy objectives and financial stability, the central bank said in its annual report. See... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] Go…