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How cryptocurrencies get their value, are we in a bubble, and can crypto be regulated? Raghuram Rajan answers

‘Regulators are struggling’: Top moments from the former RBI Governor’s interview on the underlying issues of crypto in India.

In a wide-ranging interview with CNBC-TV18, former Reserve Bank of India (RBI) Governor Raghuram Rajan shared his views on the valuation of cryptocurrencies, the problem with regulating them, and what can governments do to address this rapidly growing financial sector. His views come as the Indian government is looking to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, during the winter session of the parliament, which is set to begin on November 29. While there is a lot of confusion as to whether the government will outright ban cryptocurrencies or take a more lenient approach, one thing is for certain: the discussions on cryptocurrencies are only getting started. Where do cryptocurrencies get their value from and are we in a bubble? Cryptocurrencies have two sources of value: Rajan explained that cryptocurrencies currently have two sources of value: It is a…

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