Next financial crisis will come from private cryptocurrencies, says RBI Governor Shaktikanta Das

The next financial crisis will occur due to private cryptocurrencies, said Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday, adding that he still holds the view that cryptocurrencies should be prohibited. The RBI has for long held its view that private cryptocurrencies are a threat to stability and has been against legitimising its usage. To combat the issue, India recently launched its own cryptocurrency, backed by the RBI.