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RBI Governor Flags Crypto Risk, Urges Caution on Stablecoins
RBI chief warns of systemic risk from crypto and stablecoins, stressing the need for regulated innovation.
Reserve Bank of India Governor Sanjay Malhotra reiterated a cautious stance toward cryptocurrencies and stablecoins, warning they pose “huge risk” to financial stability. He contrasted this with the RBI’s support for sovereign digital initiatives, underlining that while innovation matters, unbridled exposure to private digital assets could undermine monetary policy and financial system safety.