Shaktikanta Das, Governor of the Reserve Bank of India, argued that cryptocurrencies should be banned.
The bear trend of the crypto money market has brought global pessimism. Recent FTX events have plunged many crypto investors into a state of fear and panic. While the adoption in the crypto industry is increasing, the turbulent and insecure environment of cryptocurrencies attracts attention. India, which has a negative view towards cryptocurrencies, came to the fore with a new move. Shaktikanta Das, Governor of the Reserve Bank of India, stated that he did not declare war on the crypto industry, but that cryptocurrencies should be banned.
Reserve Bank of India Chairman Criticizes Cryptocurrencies
Shaktikanta Das, Governor of the Reserve Bank of India, has targeted cryptocurrencies. Das stated that the use of cryptocurrencies should be banned.
Das talked about cryptocurrencies in a hall where top names of the banking industry and lawmakers were present. Das stated that crypto money poses a danger to the country’s macroeconomy.
The Central Bank Governor linked his thoughts on banning cryptocurrencies to FTX events. “After the developments over the past year, including the final episode surrounding FTX, I don’t think we need to say anything more,” Das said. said.
In addition, Shaktikanta Das believes that if cryptocurrencies grow more, the next financial crisis will be caused by cryptocurrencies. India, which reacted with its attitude towards the crypto industry, was on the agenda with heavy taxes. Finally, the Governor of the Reserve Bank of India claimed that there is nothing underlying cryptocurrencies.