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RBI raises fresh concerns over stablecoins
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Reserve Bank of India (RBI) has raised fresh concerns over stablecoins and said that any crypto asset pegged to the US
dollaror any other global currency could undermine the Indian rupee. Central bank officials have raised these concerns with the government in several meetings held recently, people aware of the development said. Stablecoins are cryptocurrencies where value is derived from an underlying asset-- USD or gold in most cases.
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