EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Reserve Bank Of India Says Crypto Forms An Unstable Ecosystem

Admin by Admin
December 30, 2022
in Crypto News
0
Reserve Bank Of India Says Crypto Forms An Unstable Ecosystem
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter
Event Event

The Reserve Bank of India has released its Financial Stability Report, in which it says that crypto needs the same regulation applicable to traditional finance.

Noises coming out of the Reserve Bank of India (RBI) have not changed in tone at all as regards all things crypto. The latest salvo to be fired at crypto came in the form of the bank’s Financial Stability Report.

It does seem rather odd, given the incoming recession, which was undoubtedly caused by central banks printing far too much currency. This in turn sent inflation spiraling up across the world, impacting on ordinary citizens by reducing their purchasing power by another huge amount.

Therefore, for the leading bank in India to spend so much time and effort on maligning such a tiny and still fairly inconsequential asset as crypto might appear to be a case of bringing in a cannon to kill a fly.

However, the RBI is not alone in its endeavors. Central banks from across the world also seem eager to join in the crypto-bashing, given that crypto is in the midst of a particularly harsh bear market, and various centralized exchanges have collapsed, they are having quite a field day.

The RBI stated in the report that in its view there were 3 options that might be applied to crypto. The first option, and the only one with any vestige of credibility, is to regulate crypto the same as any traditional finance company.

Option number two is to completely ban it given (in the bank’s view) that it has “negligible” real-life use cases. However, the bank does acknowledge that other countries might choose not to go along with this given their differing regulatory approaches and their laws on individual rights.

Option number three was to just allow crypto to collapse and to let it become “systemically irrelevant”. For all that, crypto undeniably has use cases and investors will be keeping an eye on it as fiat currencies slip further in value and begin to lose trust across wider populations.

With this in mind, it could be expected that central banks and regulatory agencies across the world might seek to combine their approach to crypto in an effort to crush it enough that their central bank digital currencies (CBDCs) can be implemented.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: bank of indiaCryptounstable ecosystem
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Crypto Analysts Share Their Bitcoin Prediction For 2023

Next Post

Bithumb Largest Cryptocurrency Shareholder Exec Dies By Suicide

Admin

Admin

Next Post
GCR Gains 40% Making Its Way To Top 100 With Scam Numbers

Bithumb Largest Cryptocurrency Shareholder Exec Dies By Suicide

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
Axie Infinity price

Axie Infinity Price Eyes 25% Gains Ahead of the Token Unlock

April 21, 2023
Mayowa Owolabi on battles traders need to fight

Battle Every Trader Must Fight (Part 1)- Mayowa Owolabi

August 31, 2022
XAGUSD pair

XAG/USD Climbs to Mid-$19.00s

4
Premier League Considering Partnership With NFT Crypto Platform

Premier League considering partnership with NFT crypto platform

2
EUR/USD pair

EUR/USD Recovers from 20-year Lows

2
Binance Pauses UK New User Registrations

Binance Proof-Of-Reserve Pledge Earns Support Following FTX Crisis

2
Pando’s 19b-4 Filing Sparks Excitement In The U.S. Bitcoin ETF Race

Pando’s 19b-4 Filing Sparks Excitement In The U.S. Bitcoin ETF Race

December 11, 2023
AUD USD pair

AUD/USD Stalls Right Above 0.6600

December 8, 2023
Inflation and Forex market

Roles of Inflation in Forex Market

December 8, 2023
Why Investors should own Tether USDT

Why Should Investors Own Tether (USDT)

December 8, 2023

Recent News

Pando’s 19b-4 Filing Sparks Excitement In The U.S. Bitcoin ETF Race

Pando’s 19b-4 Filing Sparks Excitement In The U.S. Bitcoin ETF Race

December 11, 2023
AUD USD pair

AUD/USD Stalls Right Above 0.6600

December 8, 2023
Inflation and Forex market

Roles of Inflation in Forex Market

December 8, 2023
Why Investors should own Tether USDT

Why Should Investors Own Tether (USDT)

December 8, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Entertainment
  • Forex News
  • Gaming
  • Review
  • Reviews
  • Stocks
  • Uncategorized

Recent News

Pando’s 19b-4 Filing Sparks Excitement In The U.S. Bitcoin ETF Race

Pando’s 19b-4 Filing Sparks Excitement In The U.S. Bitcoin ETF Race

December 11, 2023
AUD USD pair

AUD/USD Stalls Right Above 0.6600

December 8, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>