Indian Central Bank honestly admit why crypto is dangerous

[Yugocean]

The governor of the Indian Central Bank concurs that the central bank's ability to oversee monetary policy is being threatened by cryptocurrencies, which is why the bank wants to outlaw them.​

 

[cherry123]

The same is applicable to my country Nigeria. The central bank here feejs threatened with crypto currency so they do. not want it's adoption

 

[Magnus2022]

They are simply afraid of the change but no matter what they can't stop the financial revolution. They fear is real and cryptocurrency is threatening the existence of financial institutions. Whether they like it or not, cryptocurrency is already here.

 

[cherry123]

They are simply afraid of the change but no matter what they can't stop the financial revolution. They fear is real and cryptocurrency is threatening the existence of financial institutions. Whether they like it or not, cryptocurrency is already here.

Your last line is apt. That's just the fact they can't change the fact that crypto currency is here to stay

 

[Suba]

This news has spread to all corners of the world, the Governor of the Central Bank of India, Shaktikanta Das, called cryptocurrency a danger and a threat to the macro-economic stability and financial stability in the country. He considers the value of crypto only based on trust, has no underlying. Crypto is considered not a currency because it has no issuer and intrinsic value.

 

[Niyi Briggs]

Unfortunately, that decentralization that we get from crypto is the very reason we love it. They want to be fixing interest rate.

 

[Suba]

Many governments (countries) ban crypto, but many government officials secretly store crypto to launder their money.

 

[uptrendfinancialsignal]

The volatility of Bitcoin and other cryptocurrencies made the Indian government to make the pronouncement.

 

[gammarays]

Crypto currency is causing a financial revolution by making people own and have full access to their money. This has made most people save their money in crypto instead of banks.

 

[uptrendfinancialsignal]

Crypto currency is causing a financial revolution by making people own and have full access to their money. This has made most people save their money in crypto instead of banks.

This is the major reason why the government wouldn't like a cryptocurrency because it is giving people autonomous power over money.