Crypto Industry Refute RBI Deputy Governor’s Stance On CBDCs, Call It ‘Naive’

Crypto Industry Refute RBI Deputy Governor’s Stance On CBDCs, Call It ‘Naive’

SUMMARY

Sankar had said that central bank digital currencies (CBDCs) could kill the rationale for the existence of private cryptocurrencies

Cryptocurrencies also have other use cases, apart from digital payments, in areas such as Web3.0. I believe this is a naive comment made on Sankar’s part: IBC Capital’s Hitesh Malviya

Even if CBDCs are successful, they can only partially impact a few vulnerable stable coins, said Koinbasket CEO Khaleelulla Baig

Founders of crypto startups and industry experts have termed Reserve Bank of India (RBI) Deputy Governor T Rabi Sankar’s recent statement on cryptocurrencies as ‘naive’.

On June 2, Sankar, while addressing a webinar organised by the International Monetary Fund (IMF), said that central bank digital currencies (CBDCs) could kill the rationale for the existence of private cryptocurrencies.

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