Can Cryptocurrency ban in India latest news? You are at risk investing in cryptocurrency, RBI Governor’s message to cryptocurrency investors

RBI Governor stated that it was the Governor’s “duty” to caution investors and advised that they should be aware that they invest at their own risk.

Reserve Bank of India (RBI) Governor Shaktikanta Das issued warnings about the cryptocurrency, saying that it is a risk to the financial stability. The governor warned investors that the cryptocurrency could be a risk. declared that they are investing at the risk of their own.

CRYPTOCURRENCY PRIVATELY Created

The RBI Governor said that Cryptocurrency is privately developed. ” Cryptocurrency is privately created and it is a threat to financial stability,” said the RBI Governor. The governor warned investors that the securities are not safe. He stated that these assets have no any underlying, “not even a tulip”. The remarks are a repetition of the institutional concerns about these assets, which were previously expressed. However, they take on significance since they are just days following that the Union Budget put a 30 percent tax on gains made from these assets.

INVEST AT YOUR OWN RISK

The crypto community have welcomed the decision as one that “legitimizes” their trade. “Private cryptocurrencies or whatever name you call it are a threat to our macroeconomic stability and financial stability. They will undermine the RBI’s ability to deal with issues of financial stability and macroeconomic stability,” Das said to reporters. The official added that it is the “duty” to caution investors and advise that they should be aware that they invest at their own risk. Utilizing the context of history to illustrate the worth of these instrument, Das said, “They also need to keep in mind that the cryptocurrency has no underlying, not even a tulip.” It is worth noting that the ‘tulip mania’ that occurred in the seventeenth century was frequently mentioned as an example of a bubble in finance that occurs when the price of something is increased and not because of intrinsic value , but due to investors looking to earn a profit from selling bulbs of the exotic flower.