India’s central bank governor, Shaktikanta Das, warned that failure to regulate the market cryptocurrency It may cause the next global financial crisis.
The governor demanded the adoption of the digital rupee to meet the needs of digital banks.
The governor attributed his appeal to regulate the cryptocurrency market to the fact that these currencies have no fundamental value and trading in them depends on pure speculation.
The Indian central bank renewed its refusal to recognize cryptocurrencies, and stressed that global central banks will adopt digital currencies because they provide solutions to commercial banks around the world.
This comes as investors in the crypto industry are already reeling from the “crypto winter” caused by the collapse of Terraform Labs in May, and the larger collapse of cryptocurrency exchange FTX, which declared bankruptcy in November. And its founder, Sam Bankman Fried, was arrested in the Bahamas this week following US prosecutors filed criminal charges once morest him.
Binance also made headlines, following Archyde.com reported, citing anonymous sources, that US prosecutors are considering investigating Binance’s money laundering operations by “filing criminal charges once morest individual executives including its founder Changpeng Zhao.” .
In a statement, Binance said that US regulators are working on a comprehensive review of every crypto company.
“This nascent industry has grown rapidly, and Binance has demonstrated its commitment to security and compliance through significant investment in its team, as well as the tools and technology it uses to detect and deter illicit activity,” the spokesperson added.
