Clear danger

clear danger: The government is in the process of finalizing a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions.

Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as a “clear danger” and said that anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name.

The government is in the process of finalizing a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions.

Cryptocurrencies are a clear danger: RBI Governor Shaktikanta Das

The Reserve Bank of India (RBI) has been flagging concerns about cryptocurrencies, which are seen as a highly speculative assets.

In the foreword to the 25th issue of the Financial Stability Report (FSR) released on Thursday, Das also said that as the financial system gets increasingly digitalized, cyber risks are growing and need special attention.

“We must be mindful of the emerging risks on the horizon. Cryptocurrencies are a clear danger. Anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name,” Das said.

Why RBI Governor Calls Cryptocurrencies ‘Clear Danger’? Read HERE

In recent weeks, cryptocurrencies, which are not backed by any underlying value, have witnessed massive volatility amid global uncertainties.

RBI first come out with a circular regarding cryptocurrencies in 2018 and had barred entities regulated by it from dealing in such instruments. However, in early 2020, Supreme Court struck down the circular.

While regulatory clarity is yet to emerge concerning the cryptocurrency space in the country, the government is working to finalize a consultation paper on cryptocurrencies with inputs from various stakeholders and institutions, including the World Bank and the IMF.

In the foreword of the FSR, Das also said that while technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial stability has to be guarded against.

Cryptocurrencies ‘clear danger’, says RBI Governor Shaktikanta Das

Also, Read |Cryptocurrency market value slumps under $1 trillion

“As the financial system gets increasingly digitalized, cyber risks are growing and need special attention,” he noted.

Regarding the economy, he said it is skewed towards global spillovers and geopolitical tensions. The Indian financial system exhibits underlying robustness and resilience to withstand these shocks.

“We endeavor to face all challenges, external and internal, with strength and innovative solutions for the Indian financial system,” he added.

A noteworthy feature of the current situation is the overall resilience of Indian financial institutions, which should stand the economy in good stead as it strengthens its prospects. This reflects a combination of good governance and risk management practices, he said.

RBI guv calls crypto a ‘clear danger’; Lenskart acquires Japan’s Owndays in $400M deal

According to him, the stress test results presented in the FSR demonstrate that banks are well-positioned to withstand even severe stress scenarios without falling below the minimum capital requirement.

He also said that the corporate sector is deleveraged with stronger bottom lines and the external sector is well-buffered to withstand the ongoing terms of trade shocks and portfolio outflows.

“In a dynamic environment with considerable uncertainty, we have been proactive and nimble-footed in our policy responses. We have been calibrating our actions to the need of the hour and striving to preserve macroeconomic and financial stability to ensure sustainable and inclusive growth,” he said.

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Cryptocurrencies are a cler danger: RBI Governor Shaktikanta Das | Mint

Why RBI Governor Calls Cryptocurrencies ‘Danger’? Read HERE

Cryptocurrencies ‘danger’, says RBI Governor Shaktikanta Das

Clear and Present Danger (film) – Wikipedia

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Clear and Present Danger is a 1994 American action thriller film directed by Phillip Noyce and based on Tom Clancy’s 1989 novel of the same name.

Box office: $215.9 million

Production companies: Paramount Pictures; ‎

Budget: $62 million

Produced by: Mace Neufeld; ‎Robert Rehme‎

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Harrison Ford plays CIA Analyst Jack Ryan who is drawn into an illegal war fought by the US government against a Colombian drug cartel. Despite its many faults …

 Rating: 6.9/10 · ‎98,579 votes

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A smart and compelling dramatic thriller, Clear and Present Danger delivers an exciting adventure based on a bestselling Tom Clancy novel. When Jack Ryan is …

Release Date (Streaming): Oct 26, 1999

Release Date (Theaters): Aug 3, 1994, original

Box Office (Gross USA): $121.5M

Sound Mix: Surround, Dolby Digital, DTS

 Rating: 80% · ‎45 votes

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RBI Governor Shaktikanta Das – Cryptocurrency – Mint

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5 hours ago — Cryptocurrencies are danger, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday, adding anything that derives value 

Why RBI Governor Calls Cryptocurrencies ‘Danger 

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48 minutes ago — The Reserve Bank of India Governor Shaktikanta Das has called cryptocurrencies as a “danger” saying that anything that derives value 

RBI guv calls crypto a ‘danger’; Lenskart acquires 

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Clear and Present Danger (A Jack Ryan Novel) : Clancy, Tom

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Ultimately, and Present Danger is about good conscience, law, and politics, with Jack Ryan and CIA agent John Clark as its dual heroes. Ryan relentlessly …

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Cryptocurrencies are a danger, need to guard against

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4 hours ago — Mumbai, Jun 30 (PTI) Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as “danger” and said that anything 

Watch Clear and Present Danger | Prime Video – Amazon.com

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and Present Danger … CIA Analyst Jack Ryan (Harrison Ford) is drawn into an illegal war fought by the US government against a Colombian drug cartel.

 Rating: 4.7 · ‎3,996 reviews

Cryptocurrencies a danger to financial systems: RBI 

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4 hours ago — The report notes that global regulatory efforts continue to focus on risks associated with the crypto ecosystem and the threat of 

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AND PRESENT DANGER (DVD Hindi) ; Genre · Drama ; Main Cast · Harrison Ford, Willem Dafoe, Anne Archer ; Director · Phillip Noyce ; Number of Discs · 1 ; Sales …

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clear and present danger | Wex – Legal Information Institute

https://www.law.cornell.edu › Wex

The clear and present danger test features two independent conditions: first, the speech must impose a threat that a substantive evil might follow, and second,

 

 

 

 

 

 

 

 

 

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