India's RBI keeps hard line on crypto, backs tokenization and CBDCs
- —RBI sees private cryptocurrencies and stablecoins as a threat to financial stability
- —Malhotra flagged risks to the 'unity of money' principle
- —For cross-border transfers, the RBI favors CBDCs over private assets
- —Internal government documents suggested the RBI leans toward a full crypto ban
Why it matters: India is one of the largest crypto markets; the RBI's hard stance could lead to restrictions on banks and exchanges.
Source: CoinSpot
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