Indian central bank governor calls for crypto ban, champions CBDCs

According to CNBC's report on Dec. 21, India’s Central Bank Governor Shaktikanta Das said private crypto assets like Bitcoin (BTC) could cause the next financial crisis and should be banned as they carry “huge inherent risk.” Das said “(Crypto trading) is a hundred percent speculative activity, and I would still hold the view that it should be prohibited … because, if it is allowed to grow, if you try to regulate it and allow it to grow, please mark my words, the next financial crisis will come from private cryptocurrencies.” Das said India should embrace CBDCs over crypto as it would reduce the need to print fiat currency and help fast-track international transactions.