In dialogue with the Worldwide Financial Fund (IMF), T Rabi Sankar, the deputy governor of the Reserve Financial institution of India (RBI), mirrored an anti-crypto stance as he spoke about India’s potential to disrupt the crypto and blockchain ecosystem.

Rabi Sankar began the dialog by highlighting the success of the Unified Funds Interface (NASDAQ:) (UPI), India’s in-house fiat-based peer-to-peer funds system — which has seen a median adoption and transaction progress of 160% per anum over the past 5 years.