🚀 Gate Square Creator Certification Incentive Program Is Live!
Join Gate Square and share over $10,000 in monthly creator rewards!
Whether you’re an active Gate Square creator or an established voice on another platform, consistent quality content can earn you token rewards, exclusive Gate merch, and massive traffic exposure!
✅ Eligibility:
You can apply if you meet any of the following:
1️⃣ Verified creator on another platform
2️⃣ At least 1,000 followers on a single platform (no combined total)
3️⃣ Gate Square certified creator meeting follower and engagement criteria
Click to apply now 👉
India warns that the dollar stablecoin threatens global monetary policy
India's Chief Economic Advisor, V. Anantha Nageswaran, has warned that dollar-backed stablecoins could pose significant challenges to monetary policy and the issuance profit of countries. He stated that India faces less pressure to adopt stablecoins due to the fast payment system UPI, but is concerned that stablecoins will increase competition with banks.
The market value of global stablecoins has exceeded 300 billion USD thanks to favorable regulations in America. However, India still avoids enacting specific laws regarding cryptocurrency due to concerns about financial contagion risks. The RBI believes that managing cryptocurrency risks through regulation is very difficult.
Currently, the people of India hold approximately 4.5 billion USD in cryptocurrency. The government maintains a high tax policy and restricts banking - cryptocurrency transactions to reduce speculation and fraud.