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Cryptocurrencies threaten financial sovereignty, need to be banned: RBI Dy Guv
Updated On: 15 February, 2022 12:51 PM IST | Mumbai | PTI
Observing that crypto-technology is underpinned by a philosophy to evade government controls, he said they have been specifically developed to bypass the regulated financial system
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Representative image. Pic/ istock
Making a strong case for banning cryptocurrencies, Reserve Bank Deputy Governor T Rabi Sankar on Monday said they are even worse than Ponzi schemes and threaten the financial sovereignty of a country.
Observing that crypto-technology is underpinned by a philosophy to evade government controls, he said they have been specifically developed to bypass the regulated financial system.
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