RBI Governor Das Warns of Crypto Risks Amid US Banking Crisis

The governor of India’s central bank, Shaktikanta Das, has warned about the risks of cryptocurrencies to the financial system while commenting on the recent U.S. banking turmoil. Das emphasized the need for robust regulators and sustainable growth, adding that the ongoing U.S. banking crisis clearly shows the risks of private cryptocurrencies to the financial system. He also stressed that cryptocurrency poses a significant threat to India’s macroeconomic and financial stability and undermines the RBI’s capacity to determine monetary policy and regulate the country’s monetary system.