news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    Cryptocurrency Market Update in Sinhala | Crypto Market New Update | BTC Update | Technical Analysis

    Cryptocurrency Market Update in Sinhala | Crypto Market New Update | BTC Update | Technical Analysis

    Attention Bitcoin Holders: BITCOIN JUST MOVED $3000 +5%

    Attention Bitcoin Holders: BITCOIN JUST MOVED $3000 +5%

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    Beldex cryptocurrency fact check  in tamil | monero coin | bitcoin |crypto update |crypto scam

    Beldex cryptocurrency fact check in tamil | monero coin | bitcoin |crypto update |crypto scam

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    Emergency – 100X Crypto coin just abi – jaldi karo #bitcoin #cryptocurrency

    Cryptocurrency Market Update in Sinhala | Crypto Market New Update | BTC Update | Technical Analysis

    Cryptocurrency Market Update in Sinhala | Crypto Market New Update | BTC Update | Technical Analysis

    Attention Bitcoin Holders: BITCOIN JUST MOVED $3000 +5%

    Attention Bitcoin Holders: BITCOIN JUST MOVED $3000 +5%

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    FORGET MEME COINS – THIS CRYPTOCURRENCY CAN 100X

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    BEST LAYER 2 SOLUTION | Polygon (MATIC) vs Arbitrum (ARB) | L2 Solution in 2023 | Cryptocurrency

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    FTM Fantom Crypto Price News Today – Elliott Wave Technical Analysis Update and Price Now!

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    BREAKING: COINBASE AND BLACKROCK ARE SENDING PEPE COIN TO $0.01 – EXPLAINED – PEPE COIN NEWS TODAY

    Beldex cryptocurrency fact check  in tamil | monero coin | bitcoin |crypto update |crypto scam

    Beldex cryptocurrency fact check in tamil | monero coin | bitcoin |crypto update |crypto scam

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

    Polkadot DOT Price News Today – Technical Analysis Update Now, Price Now! Elliott Wave Analysis!

No Result
View All Result
news4global
No Result
View All Result
Home Bitcoin

Cryptocurrencies are a clear danger says RBI Governor Shaktikanta Das

June 30, 2022
Reading Time: 3 mins read
0
Cryptocurrencies are a clear danger says RBI Governor Shaktikanta Das
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto traders avoid risk and shelter in stablecoins as the market reaches a turning point – Cointelegraph

June 6, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

SEC sues Coinbase for allegedly acting as an unregistered crypto broker – CNN

June 6, 2023

Reserve Bank of India Governor Shaktikanta Das on Thursday described cryptocurrencies as “clear danger” and said that anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. The Reserve Bank of India (RBI) has been flagging concerns about cryptocurrencies, which are seen as a highly speculative asset.

In the foreword to the 25th issue of the Financial Stability Report (FSR) released on Thursday, Shaktikanta Das also said that as the financial system gets increasingly digitalised, cyber risks are growing and need special attention. “We must be mindful of the emerging risks on the horizon. Cryptocurrencies are a clear danger. Anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name,” Das said.

In recent weeks, cryptocurrencies, which are not back by any underlying value, have witnessed massive volatility amid global uncertainties. RBI first come out with a circular regarding cryptocurrencies in 2018 and had barred entities regulated by it from dealing in such instruments. However, in early 2020, Supreme Court struck down the circular.

While regulatory clarity is yet to emerge with respect to the cryptocurrency space in the country, the government is working to finalise a consultation paper on cryptocurrencies with inputs from various stakeholders and institutions, including the World Bank and the IMF.

RBI governor Shaktikanta Das addresses a press conference in Mumbai on June 8, 2022. Ā (Photo by Indranil MUKHERJEE / AFP)(AFP)

In the foreword of the FSR, Das also said that while technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial stability has to be guarded against. “As the financial system gets increasingly digitalised, cyber risks are growing and need special attention,” he noted. Regarding the economy, he said it is skewed towards global spillovers and geopolitical tensions.

The Indian financial system exhibits underlying robustness and resilience to withstand these shocks. “Our endeavour is to face all challenges, external and internal, with strength and innovative solutions for the Indian financial system,” he added. A noteworthy feature of the current situation is the overall resilience of Indian financial institutions, which should stand the economy in good stead as it strengthens its prospects. This reflects a combination of good governance and risk management practices, he said adding, the stress test results presented in the FSR demonstrate that banks are well-positioned to withstand even severe stress scenarios without falling below the minimum capital requirement.

Shaktikanta Das also said that the corporate sector is deleveraged with stronger bottom lines and the external sector is well-buffered to withstand the ongoing terms of trade shocks and portfolio outflows. “In a dynamic environment with considerable uncertainty, we have been proactive and nimble-footed in our policy responses. We have been calibrating our actions to the need of the hour and striving to preserve macroeconomic and financial stability to ensure sustainable and inclusive growth,” he said.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Tags: bitcoinCryptocurrencyFinancial Stability Reportrbireserve bank of indiaShaktikanta Das
Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Crypto traders avoid risk and shelter in stablecoins as the market reaches a turning point – Cointelegraph

by admin
June 6, 2023
0

Crypto traders avoid risk and shelter in stablecoins as the market reaches a turning point  Cointelegraph

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

SEC sues Coinbase for allegedly acting as an unregistered crypto broker – CNN

by admin
June 6, 2023
0

SEC sues Coinbase for allegedly acting as an unregistered crypto broker  CNN

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

6 Ways Artificial Intelligence (AI) Will Change Our Lives by 2030: ChatGPT Predicts – CryptoPotato

by admin
June 6, 2023
0

6 Ways Artificial Intelligence (AI) Will Change Our Lives by 2030: ChatGPT Predicts  CryptoPotato

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

US charges crypto giant Binance with 'web of deception' – BBC

by admin
June 5, 2023
0

US charges crypto giant Binance with 'web of deception'  BBC

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Bitcoin little-changed around US$27,000, Ether treads water; Solana, XRP gain – Forkast News

by admin
June 5, 2023
0

Bitcoin little-changed around US$27,000, Ether treads water; Solana, XRP gain  Forkast News

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Internal Blast Probably Breached Ukraine Dam, Experts Say (Cautiously)

Your Wednesday Briefing

June 7, 2023
PGA Tour, LIV Golf & DP World Tour merger: Players ‘shocked and angry’

PGA Tour, LIV Golf & DP World Tour merger: Players ‘shocked and angry’

June 7, 2023
Canada wildfire smoke threatens health of millions

Canada wildfire smoke threatens health of millions

June 7, 2023
Tunisian black women: ā€˜My skin colour says I don’t belong’

Tunisian black women: ā€˜My skin colour says I don’t belong’

June 7, 2023

Latest News

Internal Blast Probably Breached Ukraine Dam, Experts Say (Cautiously)

Your Wednesday Briefing

June 7, 2023
PGA Tour, LIV Golf & DP World Tour merger: Players ‘shocked and angry’

PGA Tour, LIV Golf & DP World Tour merger: Players ‘shocked and angry’

June 7, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

Ā© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

Ā© 2022 Designed by news4global