Cryptocurrencies Are A Menace To Financial Stability With A Value Lower Than A Tulip Rbi Governor Das
Private cryptocurrencies, according to RBI Governor Shaktikanta Das, are a threat to macroeconomic and financial stability, and undermine the central bank’s ability to deal with challenges on both fronts. The governor warned investors that such assets had no underlying value, “not even a tulip.” The remarks are a reiteration of institutional worries about such assets that were previously stated, but they take on added weight because they come just days after the Union Budget imposed a 30% tax on gains on such assets....