ABOUT US  |  CONTACT US  |  RSS  |  ARCHIVE  |  2023-12-07  |  UPDATED: 1402/09/13 - 17:50:1 FA | AR | PS | EN
Factbox: Israeli genocidal war on Gaza Ė What has happened so far?             Israeli attacks on Gaza kill 700 Palestinians in 24 hours            Iran FM: USí supportive policies encourage Zionist regime to continue massacre of civilians in Gaza             Everything in Gaza is at breaking point: ICRC             US sends deadly bunker buster bombs to Israel for Gaza war            Israel pulls back negotiating team from Qatar, as truce talks hit Ďdead endí             Israeli attack kills over 100 Palestinians in Gaza refugee camp             Erdogan says Netanyahu, íthe butcher of Gazaí, must be tried in ICC            Israel kills 2 IRGC military advisors in strike on Syria             Taliban De-Persianizing Afghanistan Culture: Roots and Ramifications             Afghanistan: Armed attack in Shia-populated region of Herat 5 killed             Israelis Stealing Body Organs of Palestinians Killed in War: European Monitor            Resistance vows to give Israel harsher response if Gaza war resumes: Iran             íThis is a war on children,í UNICEF warns after Israel resumes bombing Gaza             Political figures criticize UN report for alleged Ďwhitewashingí of Taliban, demand accountability            


DATE PUBLISHED: 1400/11/27 - 13:52:1
VISIT: 18798
SHARE WITH YOUR FRIENDS

Central bank calls on India to ban cryptocurrency


© Getty Images / Westend61

The deputy governor of the Reserve Bank of India compared digital currencies to a Ponzi scheme

T Rabi Sankar, the deputy governor of the Reserve Bank of India (RBI), advised the Indian government to ban cryptocurrencies on Monday - comparing digital currencies to Ponzi schemes and branding them a threat to control of the economy.

In a speech to the Indian Banks Association, Sankar warned that cryptocurrencies "threaten the financial sovereignty of a country and make it susceptible to strategic manipulation by private corporates creating these currencies or governments that control them."

All these factors lead to the conclusion that banning cryptocurrency is perhaps the most advisable choice open to India

Arguing that cryptocurrencies "have no intrinsic value," Sankar claimed they are "akin to Ponzi Schemes, and may even be worse," and said that the technologyís philosophy to "bypass the regulated financial system" should "be reason enough to treat them with caution."

Sankar also accused cryptocurrencies of "at least potentially" facilitating "anti-social activities," and warned that they would "wreck the currency system, the monetary authority, the banking system, and in general governmentís ability to control the economy" if left to continue.

India has the highest number of cryptocurrency owners in the world at more than 100 million, or roughly 7.3% of the countryís population, according to cryptocurrency payments service TripleA.

Several countries already have bans on cryptocurrency, including Egypt, Morocco, Iraq, and China.

Earlier this month, Indian Finance Secretary T V Somanathan vowed that cryptocurrency would "never be a legal tender" in India, unlike El Salvador, which became the first country in the world to make Bitcoin legal tender last year.

"Legal tender means by law it is accepted in settlement of debts. India will not be making any crypto asset as a legal tender," he said, concluding that only the Indian rupee would be legal tender in India.

 

LINK: https://www.ansarpress.com/english/26845


TAGS:






*
*

*



SEE ALSO

WFP launches emergency program to assist 600,000 Palestinians


US bans trade with 42 Chinese firms


Sanctions made Russiaís economy stronger: Putin


Germanyís economy headed for recession amid support for Ukraine


Saudi Arabia faces budget deficit after expectations of surplus


Billionaire investor Ray Dalio says Americaís growth is at risk of falling to zero


UK recession risk grows with cost-of-living crisis hitting businesses


IMF to urge China to shift growth model towards consumption


US imposes sanctions on Russian automakers


Iranís oil output up 5% to 3 mln bpd in August: OPEC data





VIEWED
MOST DISCUSSED




POLL

Modi, Merkel Discuss Afghanistan, Radicalisation And Terrorism

SEE RESULT


LAST NEWS

How the Zionist entity sought to make colonial myth of íterra nulliusí a reality

Factbox: Israeli genocidal war on Gaza Ė What has happened so far?

Israeli attacks on Gaza kill 700 Palestinians in 24 hours

Iran FM: USí supportive policies encourage Zionist regime to continue massacre of civilians in Gaza

Everything in Gaza is at breaking point: ICRC

US sends deadly bunker buster bombs to Israel for Gaza war

Israel pulls back negotiating team from Qatar, as truce talks hit Ďdead endí

Israeli attack kills over 100 Palestinians in Gaza refugee camp

Erdogan says Netanyahu, íthe butcher of Gazaí, must be tried in ICC

Israel kills 2 IRGC military advisors in strike on Syria

Taliban De-Persianizing Afghanistan Culture: Roots and Ramifications

Afghanistan: Armed attack in Shia-populated region of Herat 5 killed

Israelis Stealing Body Organs of Palestinians Killed in War: European Monitor

Resistance vows to give Israel harsher response if Gaza war resumes: Iran

íThis is a war on children,í UNICEF warns after Israel resumes bombing Gaza

Political figures criticize UN report for alleged Ďwhitewashingí of Taliban, demand accountability

Huge explosion rocks Kabul

Hamas says made deal to extend Gaza truce by 2 days

Lack of Access to Information Increased By 32 Percent

Pentagon chief visits Ukraine to reassure Kiev amid concerns over US support

UN rights chief calls for end to Israeli killing of Gazaís people at schools, shelters

From hospitals to cemeteries, Israel bombing both living and dead in Gaza

Weapons allegedly found in Gazaís al-Shifa Hospital Ďrearrangedí by Israeli army, CNN suggests

Israel committing ígenocideí against Gazaís health system: Palestinian minister

Iran does not seek spread of Israelís war on Gaza, but US approach makes it possible

Pro-Palestine demonstrations continue in Britain and France

Israeli regime should stand trial at ICC: Turkish president

Elon Musk, caving in to Zionist lobby, warns to criminalize pro-Palestine content

Saudi Arabia detains worshipers for supporting Gaza, praying for Palestine at holy sites: Report

Israel killed 12,000 Palestinians, including 5,000 children, since October 7

UN: Food-water Ďpractically non-existentí in Gaza

íRobust Measuresí Keep US Aid From Benefiting Taliban: Miller

Pakistan Claims Attacks in Pakistan Linked to Afghans

UNHCR: Forced return of Afghans from Pakistan deepens humanitarian crisis

Vatican: Pope to meet Palestinians, families of captives

Elon Musk under fire for supporting Palestine

Congresswoman Omar unveils resolution to block US arms sale to Israel

Bahrain crown prince condemns Hamasí al-Aqsa Storm Operation

AOHR UK: Parliamentís vote to continue the genocidal war by Israel confirms its participation in this crime

Israel launches military operation against Gazaís Shifa Hospital


MEDICAL NEWS


ANSAR PRESS ©  |  ABOUT US  |  CONTACT US  |  MOBILE VERSION  |  LINKS  |  DESIGN: Negah Network Co.
All right reserved. Use this website by mentioning the source (link) is allowed. ›—ś‘ź«Ś «یš —š ی šŕŠ»šŌ«š