PANews reported on December 12th that, according to Zhitong Finance, the Deputy Governor of the Reserve Bank of India stated in a public speech that stablecoinsPANews reported on December 12th that, according to Zhitong Finance, the Deputy Governor of the Reserve Bank of India stated in a public speech that stablecoins
Reserve Bank of India Deputy Governor Warns of Stablecoin Risks
PANews reported on December 12th that, according to Zhitong Finance, the Deputy Governor of the Reserve Bank of India stated in a public speech that stablecoins may exacerbate the risk of local currency dollarization, weaken emerging economies' ability to regulate capital flows, and pose a threat to the independence of monetary policy. Furthermore, their circulation could drive up credit costs and trigger a currency substitution effect. Foreign stablecoins could lead to a loss of seigniorage revenue for many countries.
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