RBI Says Crypto Could Lead India Into Next Financial Crisis

The Reserve Bank of India (RBI) has yet again expressed its distrust of cryptocurrencies.

This time, the RBI says that cryptocurrency could lead India into its next financial crisis.

The Governor of the RBI, Shaktikanta Das said that it was trying to prevent external factors from causing a dent in the economy of the country.

Das who stated this while speaking at the Business Standard BFSI Insight Summit said that there is currently no credible argument on the public good of cryptocurrencies.

“Mark my words, the next financial crisis will come from private cryptocurrencies…After FTX episode, don’t think we need to say anything more on crypto,” he warned while speaking at the event adding that the total value of crypto has come down to $140 billion and $40 billion got wiped out.” he said.



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