India’s regulators have yet again made their opinions on crypto known. The latest to reiterate the country’s position on crypto is the Governor of the Reserve Bank of India (RBI), Shaktikanta Das, who has called for a complete ban.
The Governor of the RBI, Shaktikanta Das, while addressing the Business Today Banking and Economy Summit on Friday, again made the central bank’s stance on cryptocurrencies clear, reiterating the significance of banning the industry. Das described the crypto trade as “nothing but gambling” adding that the definition of crypto remains “very unclear.” Das went as far as to say their perceived “value is nothing but make-believe.” The Governor used very dismissive language while describing cryptocurrencies and argued that there is no valid reason to acknowledge crypto as an “asset” or even a “financial product.”
Das also asserted:
Since we don’t allow gambling in our country, and if you want to allow gambling, treat it as gambling an
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