The Reserve Bank of India (RBI) governor Shaktikanta Das has major concerns about cryptocurrencies and their effect on financial stability. While he has not gone into details about what kind of cryptocurrencies he is concerned about, one can assume that it includes the entire gamut — the original Bitcoin, the Altcoins such as Ethereum, which number about 9,000 and are growing too fast for anyone to keep track of, and finally even the Initial Coin Offerings (ICOs), which are being used by most technology businesses to raise money while issuing tokens. The concern extends to even the class of cryptos
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
