Private cryptocurrencies are prone to frauds, extreme price volatility, says RBI
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Reiterating its concerns over cryptocurrencies, the Reserve Bank of India (RBI) has said that private cryptocurrencies are prone to frauds and to extreme price volatility. In its Financial Stability Report for December 2021, the central bank further said that long term concerns over cryptocurrencies relate to capital flow management, financial and macro-economic stability, monetary policy transmission and currency substitution.