{"id":47448,"date":"2022-06-09T13:46:00","date_gmt":"2022-06-09T08:16:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=47448"},"modified":"2022-06-09T13:43:38","modified_gmt":"2022-06-09T08:13:38","slug":"biz-crypto-cea","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-crypto-cea\/","title":{"rendered":"Crypto currencies yet to pass test of fiat currency: CEA"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3926149103\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran said on Thursday that the crypto currencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-190730445\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>He further said that unlike fiat money, crypto currencies cannot satisfy basic requirements such as having store value, widespread acceptability and unit of account.<\/p>\n<p>Referring to decentralised finance (DeFI), he said: &#8220;In my opinion, while it is considered innovation, I would reserve my judgement whether it is truly innovative or truly disruptive in a positive sense or is it something that we will come to regret.&#8221; Nageswaran said that he agreed with RBI Deputy Governor T Rabi Sankar who had been saying that as of now there appeared to be a case of regulatory arbitrage with regard to crypto currencies and decentralised finance rather than a case of true financial innovation.<\/p>\n<p>As an alternative to fiat currencies, he said crypto currencies have &#8220;to satisfy many purposes. It has to be a store of value, it has to have widespread acceptability and it has to be a unit of account&#8230;In all these cases the new &#8216;innovations&#8217; such as crypto or DeFI are yet to pass the test.<\/p><div class=\"trade-content_5\" id=\"trade-207490520\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>&#8220;So I wouldn&#8217;t be very excited by them because sometimes we may not be fully aware or comprehend the kind of forces we are unleashing ourselves. So I would be somewhat guarded in my welcome of some of these FinTech based disruptions like DeFI and crypto etc,&#8221; Nageswaran said at an Assocham event. PTI JD CS HVA<\/p>\n<div class=\"trade-after-content\" id=\"trade-3874377401\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran said on Thursday that the crypto currencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them. He further said that unlike fiat money, crypto currencies cannot satisfy basic requirements such as [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":26546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3329,31,1789],"tags":[],"class_list":["post-47448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Crypto currencies yet to pass test of fiat currency: CEA - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-crypto-cea\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto currencies yet to pass test of fiat currency: CEA\" \/>\n<meta property=\"og:description\" content=\"Sounding a note of caution, Chief Economic Adviser V Anantha Nageswaran said on Thursday that the crypto currencies have yet to pass the test to become fiat currency and at the same time it would be difficult to regulate them. 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