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RBI seemingly wants to ban cryptocurrencies, but not for the reasons you might think

It appears the root cause of concern is the potential for digital assets to disrupt the rise of India as a global power.
On Thursday, the Reserve Bank of India, or RBI, the country’s central bank, published a critical bulletin regarding the cryptocurrency industry. While the report praised the innovative distributed ledger technology associated with digital currencies, the RBI dismissed arguments calling for the regulation of such assets and called for an outright ban. RBI’s core concerns were related to cryptocurrencies threatening the country’s financial sovereignty. The RBI wrote: “Historically, private currencies have resulted in instability and therefore, have evolved into fiat currencies over centuries. The retrograde step back to private currencies cannot be taken simply because technology allows it without considering the dislocation it causes to society’s legal, social and economic fabric.”According to the RBI,

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We współpracy z: https://cointelegraph.com/news/rbi-seemingly-wants-to-ban-cryptocurrencies-but-not-for-the-reasons-you-might-think

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