'Don't Regulate - Ban Crypto Before It Triggers Financial Crisis', Indian Central Bank Head Says
Shaktikanta Das. Source: a video screenshot, Reserve Bank of India / YouTube The governor of the Reserve Bank of India (RBI), Shaktikanta Das, suggested that cryptocurrencies should not be regulated - they should be banned altogether, lest they lead to the next financial crisis. Speaking at the Business Standard BFSI Insight Summit on Wednesday, and asked about the war on crypto in India, Das said that "there is no war or anything like that." While different countries have different views on how to deal with crypto, he said, "Our view is that it should be prohibited because if it is allowed to grow - and if you try to regulate it and allow it to grow - please mark my words, the next financial crisis will come from private cryptocurrencies." He went on to say that it is the position of the central bank that "private" cryptocurrencies - meaning, those not issued by governments and/or banks - have "huge" inherent risks for the ...