India delays cryptocurrency policy paper as RBI cites stablecoin risks
Business
India appears to be holding off on its much-awaited cryptocurrency policy paper.
Officials feel that current tools like crypto taxes and Financial Intelligence Unit (FIU) monitoring are enough for now, especially since the Reserve Bank of India (RBI) is still worried about the risks from stablecoins and other digital currencies.
India shifts focus to digital rupee
India's approach has been to tax and track crypto without a dedicated law, unlike places like the US which introduced a stablecoin framework bill in 2025.
With no new timeline for a full policy or ban, India's focus is shifting toward promoting its own digital rupee (central bank digital currency, or CBDC) as a safer bet than private cryptocurrencies.