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

India's central bank chief on Wednesday warned that the next financial crisis will come from private cryptocurrencies adding that he still holds the view that cryptocurrencies should be prohibited.

Reserve Bank of India governor Shaktikanta Das also added that cryptocurrencies have no underlying value and pose risks for macroeconomic and financial stability, Economic Times reported.

Speaking at the BFSI Insight Summit 2022 hosted by Business Standard, Das mentioned that cryptocurrencies have no underlying value and pose risks for macroeconomic and financial ability.

The report further said that RBI has for long held its view that private cryptocurrencies are a threat to stability and has been against legitimising its usage.