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Indian Gov’t Committee Is Worried About Crypto’s Impact on Rupee’s Stability: Report


An Indian governmental committee is reportedly concerned by the impact that crypto could have on the country’s fiat currency, if it is allowed to be used for payments.

An Indian governmental committee is concerned by the impact that cryptocurrency could have on the rupee, if it is allowed to be used for payments, according to a report published by Quartz on Feb. 4.

The article refers to government panel led by Indian Economic Affairs Secretary and former Executive Director at the World Bank, Subhash Chandra Garg, which was reportedly set up in November 2017.

An anonymous source active in the crypto industry — and who reportedly recently met with the committee — is quoted by Quartz as saying:

“If Bitcoin and other digital currencies are going to be allowed to be used for payments then whether it will end up destabilising the fiat currency is a major concern for them [the committee].”

According to the…



Read Full Story : Cointelegraph.com News

2019-02-04 14:36:00

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