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Trending news: Will cryptocurrency be banned in India? RBI Governor said – Crypto price is a hoax, it is just gambling

highlights

RBI Governor said- There is no inherent value in the case of crypto.
‘Consider crypto as gambling and there is a need to set rules for gambling.’
The Finance Minister had said that the government is seriously considering the suggestions of RBI.

Mumbai. If you invest money in cryptocurrencies, then you may get a big shock later, because the Reserve Bank of India Governor (RBI Governor) Has reiterated the demand to ban it again. RBI Governor Shaktikanta Das said that there is nothing but gambling and their alleged value is just a hoax.

He said that taking forward its opposition to such currencies and to take an edge over other central banks, RBI has recently launched its own digital currency in the form of e-rupee. (Central Bank Digital Currency) is introduced.

‘Crypto is not a tulip’
Reserve Bank Governor Shaktikanta Das reiterated the need for a complete ban on crypto in a Business Today program on Friday. Its proponents call it an asset or a financial product, but it has no inherent value and is not even a ‘tulip’, he said.

Significantly, in the beginning of the last century, the demand for tulip flower had increased a lot and its price skyrocketed. People wanted to get tulips at any cost. The governor said, “Every asset, every financial product must have some underlying value, but there is no inherent value in the case of crypto.

crypto is just gambling that’s why rules are set
He said that the increase in the market value of crypto is just a hoax.” He said that to put it very clearly, it is gambling. Das insisted, “We do not allow gambling in our country, and if you want to allow gambling, consider it gambling and set gambling rules… But crypto is not a financial product.”

Last year, Union Finance Minister Nirmala Sitharaman had said that the Reserve Bank has been against crypto for a long time. Its intention is to make strict rules against crypto and ban it and the government is seriously considering the suggestions of RBI.

(with input from language)

Tags: bitcoin, Bitcoin Scam, Cryptocurrency, RBI Governor


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