Business Standard

Cryptocurrencies are a 'clear danger': RBI governor Shaktikanta Das

Indian fintech industry value projected to hit $150 bn by 2025

RBI governor Shaktikanta Das
Premium

RBI governor Shaktikanta Das

Bhaskar Dutta Mumbai
Referring to cryptocurrencies as a “clear danger”, Reserve Bank of India Governor Shaktikanta Das said anything that derives value based on make-believe is just speculation under a sophisticated name.

“While technology has supported the reach of the financial sector, its benefits must be fully harnessed, its potential to disrupt financial stability has to be guarded against. As the financial system gets increasingly digitalised, cyber risks are growing and need special attention,” Das said in the foreword to the RBI’s Financial Stability Report, June 2022.

According to the report, the Indian financial technology industry, among the faster growing globally, was valued

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 30 2022 | 9:06 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com