Warning Indians against cryptocurrencies, RBI chief says tulips have more value

FILE PHOTO: The Reserve Bank of India (RBI) Governor Shaktikanta Das smiles as he arrives at a news conference after a monetary policy review in Mumbai, India, February 6, 2020. REUTERS/Francis Mascarenhas

MUMBAI (Reuters) - India's central bank chief delivered a stark warning against investing in cryptocurrencies, saying they lacked the underlying value of even a tulip - in a reference to a speculative bubble that gripped the Netherlands in the 17th Century.

Reserve Bank of India Governor Shaktikanta Das gave his withering assessment of the digital currency craze just days after the Indian government established a taxation framework for cryptocurrencies.