new Delhi. Investing in cryptocurrencies is becoming a fashion these days. Many people who know about financial matters believe that this is not an investment but a complete speculation. If this is allowed to escalate, it could become the cause of the next financial crisis. Reserve Bank of India (RBI) Governor Shaktikanta Das gave this warning on Wednesday. He also demanded a ban on instruments like bitcoin. Das has been a staunch opponent of such instruments and the RBI has taken the issue to the Supreme Court. He said at an event that cryptocurrencies involve huge risks related to economic and financial stability and we have always been informed about this.
RBI i.e. Reserve Bank of India has been warning investors about the potential dangers of cryptocurrencies in the past. Even before this, the RBI governor has spoken about the dangers posed by such instruments, given the developments of the last one year. These include the collapse of cryptocurrency exchange FTX, one of the largest financial frauds in US history.