Dollar-Linked Crypto Damaging for Emerging Economies -
RBI
Just a day after a recent KuCoin report surfaced estimating that India has close to 115 million crypto investors, the Reserve Bank gov. has warned crypto will be of little use to India.
Shaktikanta Das added that since the majority of stablecoin tokens are pegged to the , it could lead to the unintended ‘dollarization’ of the economy.
The report predicts that investors in India will however not heed the warnings, and increase their crypto holdings instead.
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