Not just RBI's Rabi Sankar, these bigwigs also dislike crypto

cnbctv18.com:

Despite a new tax regime on income from digital virtual assets, cryptocurrencies still remain in a grey zone in terms of their legality. While some have called for greater regulation so that investors may have clarity, others have taken the opposite route and stated that a complete ban is the only option.

Reserve Bank of India Deputy Governor T. Rabi Sankar is one of those individuals.

Rabi Sankar heavily criticised all cryptocurrencies, saying it is not possible for any regulator to maintain a grip on these assets in a speech on February 14.“We have also seen that cryptocurrencies are not amenable to definition as a currency, asset or commodity; they have no underlying cash flows, they have no intrinsic value; that they are akin to Ponzi schemes, and may be even be worse," Rabi Sankar said.Also read: Bitcoin runs into Russian rules and regimentsBut the RBI deputy governor has not been the only open critic of cryptocurrencies. Here are some other noted figures who have no respect for cryptocurrencies.Warren Buffet The legendary investor had said cryptocurrencies basically have no value and they do not produce anything.

“They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: Zero,” Buffet told CNBC.The chairman of Berkshire Hathaway has made several comments in the past about his dislike for cryptocurrencies.Charlie MungerJust like his friend and associate, the vice chairman of Berkshire Hathaway has also made several strong statements about cryptocurrencies.

“I wish they had never been invented," Munger told Australian Financial Review. Munger termed