Private cryptos will trigger next financial crisis if allowed to grow: RBI Governor

Addressing a group of banking sector leaders and lawmakers, Das emphasised that cryptocurrencies have no "underlying value" and pose great risks for global macroeconomic and financial stability.

RBI Governor Shaktikanta Das

As millions of investors face uncertainty in global crypto meltdown, the Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday that the next financial crisis will come from crypto collapse if private digital coins are allowed to grow.

Addressing a group of banking sector leaders and lawmakers, Das emphasised that cryptocurrencies have no "underlying value" and pose great risks for global macroeconomic and financial stability.