India’s crypto summit pushes for INR-backed stablecoin and faster regulatory clarity

At the 2025 BFSI Insight Summit in Mumbai, crypto-industry leaders and regulators argued that India must fast-track its digital-asset framework and consider an INR-backed stablecoin to bolster remittances and protect monetary sovereignty. They noted that over 97 % of global stablecoins are dollar-backed and warned this trend could erode India’s payments influence. While the panel recommended speed, they also emphasised that a separate regulator may not suffice without a coherent policy mix encompassing AML, token-classification and consumer protection.