The Reserve Bank of India has timely warned about the danger of cryptocurrencies. He has said that the next financial crisis could be caused by crypto. The bank has demanded a ban on crypto. Now that this demand has come from RBI, the government should pay immediate attention to it. Experience so far has made it clear that trading crypto is nothing more than a Ponzi scheme. Lakhs people lost their money in this. To its credit, the RBI has expressed skepticism about cryptocurrencies over the years. Now, based on recent incidents, he has demanded a ban and called it a threat to the global economy. Reserve Bank Governor Shaktikanta Das has said the recent collapse of FTX is proof of the risks inherent in crypto. Speaking at an event, Das said, “Our main concern about crypto, unlike other products, is that it has basically no fees. We think it should be banned because. If you’re trying to regulate and grow it, mark my words: the next financial crisis will be caused by private cryptocurrencies. What is a clearer warning than this? About ten years ago, cryptocurrencies entered the Indian market. Indian regulators have been watching it ever since. It was banned by the Reserve Bank in 2018 after several instances of fraud. Two years later, the Supreme Court lifted this ban and the market boomed after that. In 2022, the government will levy a 30 percent tax on the profit made in this company. That is, in a sense, this company received legal recognition. After the FTX scandal, this company has shrunk to a tenth of its former size.