The head of India’s central bank, the Reserve Bank of India (RBI), has warned of significant risks associated with cryptocurrencies, particularly for emerging market economies. “It can impact your financial stability, currency stability, and monetary system,” RBI Governor Shaktikanta Das said.
RBI Governor’s Crypto Warnings
Shaktikanta Das, the governor of India’s central bank, the Reserve Bank of India (RBI), issued several warnings regarding cryptocurrency at the World Economic Forum in Davos this week. Das said:
Cryptocurrencies have huge risk, particularly for emerging market economies because it can impact your financial stability, currency stability, and monetary system.
“There is no underlying. It is not a currency, but it has the potential to become a currency in which event it can occupy the part of the payments system. It can impact your banking system and therefore it has very much risk involved in it,” the Indian central bank governor stressed.
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