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The Economic Times

Global Business / The Economic Times

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RBI backs crypto containment and keeps ban on table, officials tell house panel

The Reserve Bank of India has strongly advised a prohibition strategy for crypto assets, recommending that banks and financial institutions be completely shielded from them. Officials argued that allowing exposure could legitimize speculative products with no economic benefit and pose financial stability risks. The RBI also questioned India's top crypto adopter ranking and warned stablecoins could threaten monetary sovereignty.

3 Jul 2026 12:52 am