Shaktikanta Das, the governor of the <a href="https://www.cryptoknowmics.com/news/indian-crypto-companies-criticize-the-concept-note-on-cbdc-by-rbi" target="_blank" rel="nofollow noopener">Reserve Bank of India (RBI)</a>, <a href="https://www.youtube.com/watch?v=5pDiWyN0IWQ">stated</a> that it is necessary to outlaw private <a href="https://www.cryptoknowmics.com/news/banking-head-of-us-senate-indicates-outlawing-cryptocurrencies">crypto</a> since continuing to use them will trigger a future financial disaster.
<h2>RBI Views About Crypto Financial Disaster</h2>
Das reaffirmed the RBI's position that private cryptocurrencies ought to be outlawed. Das stated on Wednesday at the Business Standard BFSI Insight Summit that private cryptocurrencies will cause the next financial disaster. According to Das, cryptocurrencies are worthless in their fundamentals and pose enormous inherent hazards to the stability of country's economy and finances.

In particular, the governor of the central bank cited the defunct cryptocurrency exchange <a href="https://www.cryptoknowmics.com/news/sec-identifies-ftx-exchanges-ftt-token-as-a-security">FTX</a> as evidence of the need for a ban on cryptocurrencies.
<h2>Ambitions to Issue Digital rupee</h2>
Das stated he doesn't consider the need to express anything additional about the viewpoint after all the happenings over the previous year, including the most latest incident on FTX.

However, Das is optimistic about digital currencies issued by central banks and the RBI's ambitions to issue a digital rupee. He further stated that people would see in the coming days a growing number of central banks would appreciate digital currencies, and India has been at the vanguard of the digital revolution in the present century.

Crypto to Trigger Next Financial Disaster and Should be Outlawed: RBI

Shaktikanta Das of the RBI stated that it is necessary to outlaw private crypto since continuing to use them will trigger a future financial disaster

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Crypto to Trigger Next Financial Disaster and Should be Outlawed: RBI

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