"If large stablecoins are linked to some other currency, the

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"If large stablecoins are linked to some other currency, there is a risk of dollarization," RBI Deputy Governor Rabi Sankar has said. Stablecoins are an existential threat to policy sovereignty and are only useful to a few countries, said Reserve Bank of India Deputy Governor Rabi Sankar at an event, according to the local news platform The Hindu. Given the concerns around stablecoins, central bank digital currencies (CBDC) are better "stable solutions" for every country, Sankar said. #reservebankofindia #stablecoin #crypto2023 #cryptoindia #cryptoonindia

"If large stablecoins are linked to some other currency, there is a risk of dollarization," RBI Deputy Governor Rabi Sankar has said.
Stablecoins are an existential threat to policy sovereignty and are only useful to a few countries, said Reserve Bank of India Deputy Governor Rabi Sankar at an event, according to the local news platform The Hindu.
Given the concerns around stablecoins, central bank digital currencies (CBDC) are better "stable solutions" for every country, Sankar said.
#reservebankofindia  #stablecoin  #crypto2023  #cryptoindia  #cryptoonindia  