arunima25
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The legal state of cryptocurrency in India has been an unclear state right from the beginning. Government was always discouraging it. Recently in the latest budget session, Finance Minister of India stated that the income from cryptos would be taxable. Some took it as a positive sign of a first step towards acceptance of the cryptos. But she made it quite clear that it should not be taken as giving legal status to cryptos. As promised by her during the budget, India launched its digital currency on December 1st 2022.
www.cnbctv18.com
This above news piece is about how the governor of RBI ( Reserve Bank of India) ferls that all crypto activities should be banned as they pose a threat to the economy and can be a cause of next financial crisis. He has stated three main concerns..
1. It's unregulated and so it breaks the financial system. It's tough to regulate it under financial regulations.
2. It has no underlying basis. So, it's purpose is not clear. Whether it's good for society abd people stays unclear.
3. It's all about speculative market and so it's a risky asset.
Well, this doesn't seem encouraging, at least in India. The future of crypto in India hangs in the air.
Central banks across the world are wary about crypto market. What's your view on this? What's the situation in your country?
RBI Governor says next financial crisis will emerge from cryptocurrencies
Cryptocurrency has a huge inherent risk for our macroeconomic and financial stability, said The Reserve Bank of India Governor Shaktikanta Das.
This above news piece is about how the governor of RBI ( Reserve Bank of India) ferls that all crypto activities should be banned as they pose a threat to the economy and can be a cause of next financial crisis. He has stated three main concerns..
1. It's unregulated and so it breaks the financial system. It's tough to regulate it under financial regulations.
2. It has no underlying basis. So, it's purpose is not clear. Whether it's good for society abd people stays unclear.
3. It's all about speculative market and so it's a risky asset.
Well, this doesn't seem encouraging, at least in India. The future of crypto in India hangs in the air.
Central banks across the world are wary about crypto market. What's your view on this? What's the situation in your country?
