Business Insider USFTX's collapse shows that crypto could trigger the next global financial crisis if it's not banned, according to RBI governor Shaktikanta Das.FTX's bankruptcy filing shows that crypto is a threat to the global financial system, according to Reserve Bank of India governor Shaktikanta Das."Mark my words, the next financial crisis will come from private cryptocurrencies," he added.
"The term 'cryptocurrency' is a fashionable way of describing what is otherwise a 100% speculative activity," he told"Our view is that it should be prohibited because 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 added."They have no underlying value. They have huge inherent risks for our macro economic and financial stability.
Das said that this year's brutal 'crypto winter', fueled by rising interest rates and the spectacular implosion of several high-profile companies including major exchange FTX, had reinforced his view that cryptocurrencies need to be banned. Authorities arrested its disgraced founder Sam Bankman-Fried in the Bahamas last week, and he is currently awaiting extradition to the US on fraud and money laundering charges.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gorgeous animation shows how the Earth changes with the seasons | Business InsiderAstronomers believe that billions of years ago, a Mars-sized object smashed into Earth, knocking our planet over and leaving it tilted at an angle. | BISouthAfrica BISouthAfrica 😂😂😂 good one BISouthAfrica The word is 'believe'. Article means nothing
Source: News24 - 🏆 4. / 80 Read more »
Afghan government officials helped smugglers sneak almost $1 billion out of Afghanistan, documents show | Business InsiderAfghanistan corruption was so bad that $884 million was smuggled out as Ashraf Ghani's government neared collapse, government documents show
Source: BISouthAfrica - 🏆 34. / 51 Read more »
Macadamias are a lot cheaper than last year – mostly because people can’t afford them | Business InsiderA global oversupply of macadamias and people's lack of cash for luxury items has pushed the price of the nuts down, and you could also be paying less for them soon. BISouthAfrica So basically this is saying that the sellers can sell them, and other goods, at cheaper prices! 🤔🤔
Source: BISouthAfrica - 🏆 34. / 51 Read more »
5 lightweight gifts to get for real South African hikers and adventurers | Business InsiderWe went to the shops to look for five lightweight gift for hikers that won't be too heavy on your pocket.
Source: BISouthAfrica - 🏆 34. / 51 Read more »
Contaminated spinach left people in Australia hallucinating, confused, and unable to stand | Business InsiderOfficials believe the spinach, used in dozens of products, was contaminated by another plant or weed, which has been sent to laboratories for testing. BISouthAfrica Generally I have hallucinations when I eat normal spinach. I dream of never having to eat it again.
Source: BISouthAfrica - 🏆 34. / 51 Read more »
Carol Paton | What the new ANC top 7 means for business | BusinessOPINION | The composition of the ANC's top seven is good for business. Come January, President Cyril Ramaphosa will need to reshuffle his Cabinet, writes politicsblahbla. politicsblahbla 😂😂WMC is jumping for joy politicsblahbla QaanitahHunter MKhalidSayed ThaboMakwakwa kimheller3 NiklosStephan DenzilTaylor Tone completely different from y'day article how brown envelopes have corrupted these conferences. Positions more important than policies. Paul Mashatile already accepted by business read banks. politicsblahbla When Cyril was elected a few years back I had that opinion. Meantime Cyril destroyed SA with crime, racism, EWC, with national health plan, with lockdowns and HUGE debt and more BEE and SASSA. He single handed destroyed SA. Nobody invested in his SA
Source: News24 - 🏆 4. / 80 Read more »