🐪 The Indian government is worried that cryptocurrencies may destabilise the rupee
An insider familiar with the Garg panel, the the cryptocurrency bureaucratic committee tasked with analyzing adoption in India, says the panel is stuck on the potential of Rupee destabilization. A report from the Bank of International Settlements (BIS) issued in March 2018 pointed to potential destabilization for traditional banks from public adoption of crypto. The BIS report is causing the panel, which was supposed to produce its findings last month, to take a slow approach in rolling out regulations.
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