Cryptos can lead to dollarisation of economy: RBI officials to par panel

Cryptocurrencies can lead to “dollarisation” of a part of the economy which would be against Indias sovereign interest, top officials of the RBI have told a parliamentary panel, according to sources.

Briefing the Parliamentary Standing Committee on Finance chaired by former minister of state for finance Jayant Sinha, top officials of the RBI, including its governor Shaktikanta Das, clearly expressed their apprehensions about cryptocurrencies and said these pose challenges to the stability of the financial system, sources told

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