Cryptocurrency News

RBI warns of crypto ‘dollarization’ of Indian economy

05/17/2022

Less than a minute

2022.05.17 10:41

RBI warns of crypto ‘dollarization’ of Indian economy

Officials from the Reserve Bank of India (RBI) have reportedly sounded the alarm bells again over crypto adoption, which they claim will ultimately lead to the “dollarization” of the local economy.

According to a Monday report from the Indian branch of the Economic Times — which cited unnamed sources — the RBI’s concerns are focused on U.S. dollar-dominated cryptocurrencies taking away market share from the Indian rupee.

05/17/2022

Less than a minute

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