Cryptos will lead to financial instability, dollarization of the economy, says RBI Governor

August 23, 2022

The RBI chief said, “cryptos may lead to dollarization of the developing countries like India as the prices of crypto tokens are mostly denominated in dollars.”He said that this will create serious financial instability in the country. The RBI governor also added that cryptos pose a serious risk for small investors who are prone to lose their money.

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