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The Times of India
The Times of India
Business
PTI

Cryptocurrencies threaten financial sovereignty, need to be banned: RBI deputy governor

RBI T Rabi Sankar Reserve Bank

MUMBAI: Making a strong case for banning cryptocurrencies, Reserve Bank deputy governor T Rabi Sankar on Monday said they are even worse than Ponzi schemes and threaten the financial sovereignty of a country.

Observing that crypto-technology is underpinned by a philosophy to evade government controls, he said they have been specifically developed to bypass the regulated financial system.

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