"The currency, which can fluctuate on a large scale, does not deserve to be seen as a means of exchange," Ajay Banga said in comments at the Indian consulate this week.
He was concerned that 95% of all illegal transactions were done on the black network (dark grid).
He added that he considered electronic currencies as something undesirable, explaining that the idea of an anonymous currency can fluctuate greatly means that it is not a good means of exchange because it is not able to predict and transparency.
Banja said the reasons for not preferring the virtual currency as an intermediary for exchange, which in the forefront are unknown.
He has been accused of condemning 12 Russia by Washington for interfering in the US presidential election, saying the FBI has revealed that Russian clients have handled the most sensitive transactions such as the digital "Betquin" coin.
MasterCard today unveiled its results with a 33% increase in profits, but the stock fell about 3% on the back of failing to meet analysts' estimates.
By 5:47 pm GMT, the market capitalization of all electronic currencies rose to $ 301.21 billion, up nearly $ 14 billion in the last 24 hours.
Note: The content ("Master Card" for electronic currencies) is "Unwanted" (first published on Mubasher website) and the encyclopedia of this news day is not guaranteed in any way.
You can find out the details of this address ("Master Card" for electronic currencies: "something not desirable") through its original source (any direct site).