India: RBI shares concerns about crypto hazards; apprehensive about crypto ads
Central banks’ policy making has played a key role in manufacturing the 2008 financial crisis. One of the responses to that crisis was Bitcoin. With its decentralized system and peer-to-peer technology, cryptocurrencies such as Bitcoin have the potential to dismantle the traditional banking system. Therefore, the banking system has maintained a negative stance irrespective of the surge in digital asset adoption. The list includes India, one of the leading crypto nations with respect to demand.
Banks in India have begun informing cryptocurrency investors about the risks associated with the market. How? By sending cold emails to customers who have invested in crypto. Why? Simply because the Reserve bank of India instructed them to do so.
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