Ray Dialo believes Bitcoin might plunge in the coming years, and Chinese digital currency can “compete” favourably with it.
“I think you are going to see the renminbi become a more significant, a strong currency, stable currency, more attractive-returning currency, and also a more widely used currency in the years ahead,” Dalio told business news platform CNBC.
Indian Central Bank shed light on regulations as banks snub digital currency
The reserve Bank of England has released an official statement explaining the regulations guiding cryptocurrency in the country after reports that local banks are shunning crypto-related transactions. The banks’ actions are based on the outdated regulations which was overuled by the RBI a while ago.
“Such references to the above circular by banks/ regulated entities are not in order as this circular was set aside by the Hon’ble Supreme Court on March 4, 2020 in the matter of Writ Petition,” the notice reads, emphasizing that the circular is no longer valid and cannot be cited.