Cryptocurrencies: Reserve Bank of India (RBI) Governor Shaktikanta Das has given a big statement regarding crypto currency. He said that cryptocurrency is just a gamble, apart from this it is nothing and its price is just a hoax. Reserve Bank Governor Shaktikanta Das opposed cryptocurrency and once again reiterated the point of banning it.
Shaktikanta Das said that there should be a complete ban on cryptocurrency. Let us tell you that in order to get an edge over other central banks recently, RBI has developed a system of digital currency i.e. e-rupee. It is a digital currency, which is as valid as the rupee. It will be gradually implemented across the country.
Governor told why should be banned
Reserve Bank of India (RBI) Governor Shaktikanta Das reiterated the need for a complete ban on crypto in a Business Today program on Friday. Its proponents call it an asset or a financial product, but it has no inherent value and is not even a ‘tulip’, he said. It is worth noting that in the beginning of the last century, the demand for tulips had increased, for which people were making all kinds of efforts.
it’s a gamble
Governor Shaktikanta Das said that every asset, every financial product should have some inherent value, but there is no inherent value in the case of crypto. There isn’t even a tulip and the rise in the market value of crypto is just an illusion. He said that to put it very clearly, it is gambling.
Cryptocurrencies not financial products
Shaktikanta Das insisted that we do not allow gambling in our country and if you want to allow gambling then consider it as gambling and set the rules of gambling, but crypto is not a financial product.
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