India's Central Bank RBI Says Crypto Is Prone to Fraud and Poses Immediate Risks to Consumer Protection
“Private cryptocurrencies pose immediate risks to customer protection and anti-money laundering / combating the financing of terrorism ,” the RBI stressed. The report also references the finding of the Financial Action Task Force which states that “the virtual asset ecosystem has seen the rise of anonymity-enhanced cryptocurrencies , mixers and tumblers, decentralized platforms and exchanges, privacy wallets, and other types of products and services that enable or allow for reduced transparency and increased obfuscation of financial flows.
Noting that the market capitalization of the top 100 cryptocurrencies has reached $2.8 trillion, the RBI warned that “In the EMEs [emerging market economies] that are subject to capital controls, free accessibility of crypto assets to residents can undermine their capital regulation framework.”
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The central bank should work with platforms like bitfinex to adopt crypto and not ban it.
Stupidity
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Stop making stupid people famous....this apply to sharing such news from old grumpy farts like the Indian central bank.
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true.
Same goes with fiat… idiot
He he he crypto banned 🚫 in india from today now
It’s absolutely true
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Like India dosent have corruption ? They have corruption at every level of the government and finance sector
It's dumping wtf
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My prime question is why jus india is facing all this n rest no outh big big countries Come on PMOIndia wake up technology will revolutionize any how with or without you. Why only india is having issue of money laundering Such a sick thinking 1st save india from COVID
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It’s well known that India is one of the mature democracies in the world they’re cautiously & consciously moving in the right direction for regulation. This kind of FUD is clearly meant to undermine Indias efforts and/or create panic.FUD news sponsored by their envious neighbors.
Better they shut the entire internet The only solution to stop crypto Or else it's highly impossible to drop crypto from future All these news are just a noise
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BS- if you don’t think Gov’s can track anything online you’re wrong. Cash is actually harder to track but it’s more difficult to transfer
Crossing the 48500 next target is 51500 btc
RBI, another money printing machine. Dishonest and anti-democratic
Btc jump again
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Most countries with quasi-dictators that have weaker currency are against Bitcoin. 'Keep the people down.' Bitcoin revolution will change the world. End poverty End hate.
Hold
This percentage Bitcoin is weak unless it swings to the range of 48-49k and goes up. It is powerless. Unless the market receives a reaction from the macro derivatives markets,the movement momentum increases. I’ve been taking 72_gbt tips & TA seriously and I’ve been superb
Fiat money are dangerous BankofIndia_IN
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