RBI Deputy Governor: Banning Crypto Is ‘Most Advisable’ for India, Regulation...
A deputy governor of India’s central bank, the Reserve Bank of India (RBI), likens cryptocurrencies to Ponzi schemes, emphasizing that they cannot be regulated. “It would be futile to regulate cryptocurrencies,” he claims, stating that they should be banned. RBI’s Deputy Governor Sees Crypto Ban as ‘the Most Advisable Choice Open to India’ A deputy governor of the Reserve Bank of India (RBI), T. Rabi Sankar, shared his view on cryptocurrency and what Indian crypto policy should be during his keynote address at the Indian Banks Association 17th....
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CoinDesk recently reported that the Reserve Bank of India's (RBI) governor and two of its deputy governors had discussed bitcoin during a banking conference held in August. During his speech, the RBI's deputy governor Shri R Gandhi addressed cryptocurrencies and crowdfunding, saying both had disruptive potential, but needed to be controlled in order to avoid undesirable consequences. As much as they were notable, Gandhi's comments were also relatively inconclusive and added to the ongoing uncertainty about bitcoin regulation in the country. This, however, was not the first time the Indian....
Reserve Bank of India Deputy Governor T. Rabi Sankar says with complete confidence that digital bank assets or CBDCs will ultimately pull the plug on cryptocurrencies such as Bitcoin, Ethereum, and others. So, is this seriously the end of the line for crypto? RBI Deputy Governor T. Rabi Sankar says: “We believe that CBDCs would […]
Echoing the earlier statement of Raghuram Rajan, who is the current Governor of Reserve Bank of India (RBI), now the Deputy Governor SS Mundra has called for regulating the cryptocurrency market in India and to monitor it well to ensure that it "does not pose any concerns." Mundra expressed his viewpoint while speaking at the annual Financial Institution Benchmarking & Calibration (FIBAC) conference in Mumbai. He further said that "it is near impossible to regulate the behavior and choices of individuals...hence, it will be more practical for the regulatory authorities to push for bringing....
Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has outlined the implications of India issuing a central bank digital currency, the digital rupee. ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact all along the line,” he explained.
RBI’s Deputy Governor Discusses Indian Central Bank Digital Currency
RBI Deputy Governor T. Rabi Sankar talked about the country’s central bank digital currency (CBDC) Thursday at an event organized by the Indian Council for Research on International Economic....
The deputy governor of the Reserve Bank of India (RBI) has revealed that the central bank is planning to launch a state-backed digital currency in phases so that it would have “little or no disruption to India’s banking or monetary systems.” RBI Plans ‘Phased Implementation’ for Digital Rupee RBI Deputy Governor T. Rabi Sankar talked about India’s central bank digital currency (CBDC) at the Vidhi Centre for Legal Policy on Thursday, local media reported. He explained that the “RBI has been exploring the pros and cons of introduction of CBDCs since....