Shaktikanta Das, chairman of the Reserve Bank of India (RBI), has said during a speech at the BT Banking & Economy summit that digital assets should be completely banned in the country, Business Today has reported.
According to him:
“RBI’s position is very clear, all cryptos should be banned. However, the technology of blockchain needs to be supported as it has so many other applications.”
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Das has pointed out the unreliability of cryptocurrencies due to constant price fluctuations and the vagueness of the definition. According to him, some consider it an asset, others consider it a financial product.
Das has added:
“The volatility in prices is based on the make-believe concept where a particular crypto’s price can go up or down. So, anything that comes without any underline whose valuations is entirely dependent on make-believe is just 100 per cent speculation or it can be bluntly termed as gambling.”
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He has recalled that the latter are banned in India. In his opinion, “crypto masquerading as a financial product or asset is completely a misplaced argument.”
Источник: ru.ihodl.com
