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Crypto could spark the next financial crisis, says India’s RBI head

Published 12/21/2022, 09:10 PM
Updated 12/22/2022, 05:40 AM

The governor of the Reserve Bank of India (RBI), Shaktikanta Das, did not mince his words when discussing the crypto sector at a recent conference, asserting that “private” crypto will be behind the next financial crisis.

Speaking at the Business Standard BFSI Insight Summit on Dec. 21, Das argued that private cryptocurrencies — those that are not issued by banks or governments — are backed by nothing and are purely tools for speculation.

Shaktikanta Das speaking at the summit. Source: Kamlesh Pednekar

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