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Crypto regulation summit in India pushes for INR-backed stablecoin and faster rules
Indian crypto summit calls for INR-backed stablecoin and fast-tracked regulation to protect monetary sovereignty and tap remittances.
At the recent BFSI Summit in India, crypto industry leaders urged regulators to accelerate the rollout of framework around virtual assets, including a push for an Indian-rupee-backed stablecoin to reduce remittance costs and protect monetary sovereignty. They warned that if 97 % of stablecoins remain US-dollar-backed the rupee’s influence in global payments will weaken. The summit highlighted that global stable-coin circulation could hit US$2 trillion by 2030, prompting calls for India to move ahead of peers rather than play catch-up in digital-asset infrastructure.