The Indian’s central bank (Reserve Bank of India, RBI) has released a report stating that cryptocurrencies do not pose, currently, a threat. Nonetheless, the market’s evolution and the cryptocurrencies increased adoption may change the bank’s assessment in the future.
The RBI’s report mentions an analysis carried out by the Financial Stability Board (FSB), an international entity that monitors and advices on the global financial system.
“The FSB has undertaken a review of the financial stability risks posed by the rapid growth of crypto-assets. Its initial assessment is that crypto-assets do not pose risks to global financial stability currently.” — the RBI wrote in its report.
However, the central bank stressed that cryptocurrencies need constant monitoring regarding their impact on the financial stability.
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