India Delays Crypto Regulation Amid Systemic Risk Concerns
The Reserve Bank of India continues to resist comprehensive cryptocurrency regulation, arguing that formal recognition could amplify systemic risks. Regulatory hesitation persists despite existing tax policies and exchange oversight.
Stablecoins pose a particular concern, with the RBI warning they may undermine domestic payment infrastructures like UPI. The central bank maintains that no regulatory framework can adequately address the velocity of off-ledger crypto transactions.