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India’s Reserve Bank of India Reaffirms Cautious Stance on Cryptocurrencies, Backs Domestic CBDC
RBI reaffirms crypto caution, backs India’s digital-rupee and domestic payment systems instead of private cryptocurrencies.
RBI Governor Sanjay Malhotra stressed that cryptocurrencies and stablecoins carry ‘‘huge risk’’ and promoted a more prudent path, while expressing support for India’s own digital-rupee and digital payment infrastructure.
Speaking at the Delhi School of Economics, he said India’s existing payment rails are effective and the central bank will continue to prioritise sovereign digital innovation over private crypto experiments. The remarks come amid global regulatory shifts in the digital-asset space.