The government’s hand in the rise and fall of crypto
- The legitimacy that cryptos ended up with was perhaps an unintended consequence of quantitative easing
- Governments and central banks had an important role in making crypto popular. In 2010, the Fed decided to start a second round of quantitative easing to drive down long-term interest rates.
MUMBAI : In a written answer to a question raised in the Lok Sabha, finance minister Nirmala Sitharaman said last week: “Reserve Bank of India (RBI) is of the view that cryptocurrencies should be prohibited."
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