India fears the widespread use of cryptocurrencies
Representatives of the team in charge of ecosystem regulation have assured that the Indian government is showing concern over the massification of digital assets
The government of India has begun to consider that the widespread use of cryptocurrencies could represent a great threat to its national currency, the rupee.
The team in charge of regulating the ecosystem of digital assets has begun to become more concerned about the impact of the use of currencies within the less explored areas of the economy.
This sentiment comes much further back, last year the Bank for International Settlements (BIS) issued a report mentioning what cryptocurrencies allow to be done within the national policy and other aspects.
One of the bank representatives, who asked to be anonymous, was part of the meetings where the ministers of India were present and talked about how they could face this possible problem.
“The overall impact it is probably to have on the financial ecosystem still is not clear and has been a challenge to convince them on this particular point”, he said.
K. Tovar
Source: Coincrispy
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