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.