India’s central bank, the Reserve Bank of India (RBI), has warned about investing in the crypto market following the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST). “We have been cautioning against crypto and look at what has happened to the crypto market now,” said Governor Shaktikanta Das.
RBI’s Governor on Crypto Market and Regulation
The governor of the Reserve Bank of India (RBI), Shaktikanta Das, discussed the crypto market downturn and the regulation of crypto assets in an interview with CNBC TV18 Monday.
“We have been cautioning against crypto and look at what has happened to the crypto market now,” the governor said, stressing:
Had we been regulating it already, then people would have raised questions about what happened to regulations.
The crypto market has shed over $1.5 trillion since November last year and almost $500 billion since the beginning of the month. The market slump was exacerbated by the fall of cryptocurrency terra (LUNA) an
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