Deputy Governor of the Reserve Bank of India: Most available data on cryptocurrencies is misleading

ChainCatcher news, T Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), stated that the available data regarding cryptocurrencies is mostly misleading and called for all relevant regulations to be formulated based on a clear understanding of what digital currencies are and what they should do.

At a meeting hosted by the International Monetary Fund (IMF), T Rabi Sankar explained, "Cryptocurrency data is not available, and the available data is mostly misleading. Formulating regulations in the absence of sufficient information is likely to lead us to ultimately prescribe the wrong solutions, so it is necessary to collect adequate, reliable, and consistent information."

T Rabi Sankar also suggested the establishment of an initiative based on the OECD's framework for crypto asset reporting, to enable member countries to exchange information in real time. (Source link)