India’s central bank warns crypto to cause next financial crisis if allowed to grow
As the cryptocurrency sector keeps growing despite occasional setbacks, not everyone is on board with the budding asset class, and some are even warning of a major financial crisis if digital assets are allowed to prosper.
One of these naysayers is Shaktikanta Das, the governor of the Reserve Bank of India, who has expressed concern over the speedy growth of crypto assets, warning it could lead to the next financial crisis, Times of India reported on December 21. Das added that the lack of crypto regulation by central banks.
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