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Citing crypto crash, Shaktikanta Das says RBI has been rightly cautioning investors

The Reserve Bank of India (RBI) has been cautioning investors and the government against cryptocurrencies and continues to maintain its position, more so amid the current crypto market crash, RBI governor Shaktikanta Das has said. In an interview to CNBC-TV18, Das said, “We have been cautioning against crypto and look at what has happened to the crypto market now. Had we been regulating it already, then people would have raised questions about what happened to regulations. This is something whose underlying (value) is nothing. There are big questions on how do you regulate it. Our position remains very clear, it will seriously undermine the monetary, financial and macroeconomic stability of India.” Das also said the government too seemed to be in sync with the regulator’s stance that cryptocurrencies have no underlying value. Read details here