Indian Central Bank Says Cryptos Could Lead to “Dollarization” of Economy: Report

India Crypto Investors Await Taxation Clarity; Bitcoin Rises on a Day of Big Price Swings

Cryptocurrencies can lead to “dollarization” of a part of the economy and this could be against the country’s sovereign interest, the top officials of India’s central bank told a parliamentary committee on finance, according to a Press Trust of India report.

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