India’s RBI renews anti crypto stance as tax reporting concerns persist

The post India Crypto Regulation: RBI’s Prohibition Stance and Market Impact appeared on BitcoinEthereumNews.com. India’s crypto regulation debate just got sharper. The Reserve Bank of India is pushing to bar banks and financial institutions from holding, trading, or gaining any exposure to crypto assets — a stance that puts one of the world’s largest crypto markets squarely at odds with its own central bank. Key takeaways The RBI wants banks and financial institutions barred from all crypto asset exposure as part of a policy leaning toward prohibition. The central bank warns that privately issued stablecoins backed by foreign currencies threaten India’s monetary sovereignty, while rupee-backed stablecoins risk eroding government revenue and financial stability. Fewer than 25% of the roughly 645,000 individuals who conducted crypto transactions in the financial year ending March 2023 reported them on their tax returns. India’s tax department flags offshore exchanges, private wallets, a

The post India’s RBI Renews Bitcoin Prohibition Push Affecting 39 Million Traders appeared on BitcoinEthereumNews.com. Crypto News India’s central bank has renewed its push to keep cryptocurrency outside the regulated financial system, reviving a prohibition-oriented stance that most directly affects Bitcoin (BTC) and other altcoin holdings. Internal government documents dated May and June recommend barring banks and financial institutions from holding, trading, or taking any exposure to crypto assets and privately issued stablecoins. The Reserve Bank of India (RBI) argues that isolation limits financial-contagion risk to domestic lenders. While Indian banks are technically permitted to engage with the sector, most major institutions have avoided it after years of cautionary signals, leaving the industry to operate in a persistent regulatory grey zone that neither legalises nor clearly governs digital-asset activity. The RBI extended its warning to stablecoins, tokens pegged to fiat cu

The post India’s Central Bank Renews Push for Crypto Ban: Report appeared on BitcoinEthereumNews.com. India’s central bank has again backed a tougher stance on crypto, while tax officials warned that offshore trading and private wallets are making enforcement harder.  The Reserve Bank of India (RBI) has reiterated its support for a crypto policy, which is “leaning towards prohibition,” according to internal government documents reviewed by Reuters. They show that the institution continues to be concerned about financial stability, monetary sovereignty, and the role of privately issued stablecoins. RBI Wants Crypto Outside Regulated Finance According to the report, the RBI said that banks and financial institutions should be prohibited from holding, trading, or gaining any exposure to cryptocurrencies and to privately issued stablecoins (such as USDT and USDC). The bank also considers a prohibition a means of keeping digital assets outside the regulated financial system and reducing f

India's AI-focused cybersecurity strategy may influence global regulatory trends, potentially prompting shifts in U.S. policy and market dynamics. The post India to unveil financial cybersecurity strategy with AI focus by 2026 appeared first on Crypto Briefing.

India's central bank has again backed a tougher stance on crypto, while tax officials warned that offshore trading and private wallets are making enforcement harder.

The post India’s Central Bank Renews Push to Keep Crypto Out of the Financial System appeared on BitcoinEthereumNews.com. The Reserve Bank of India (RBI), the country’s central bank, has reiterated its support for a cryptocurrency policy that favors a prohibition-oriented approach. The RBI wants banks and financial institutions barred from any exposure to crypto assets and privately issued stablecoins.   Why India’s Central Bank Leans Toward Crypto Prohibition The RBI has warned about crypto risks repeatedly and now argues for policies “leaning towards prohibition,” according to documents reviewed this week by Reuters. It wants digital assets kept outside the regulated financial system. Officials say the aim is to limit contagion risks to lenders. The stance revives a fight the RBI lost in 2018, when a court struck down policies that had effectively banned crypto dealings. Since then, digital assets have existed in a grey zone. Indian banks are currently allowed to engage with cryptocu

The post India: Cheaper Oil supports FY27 deficit target – Standard Chartered appeared on BitcoinEthereumNews.com. Standard Chartered economists Anubhuti Sahay and Saurav Anand assess India’s FY27 fiscal deficit outlook, highlighting how lower crude Oil prices reduce the risk of fiscal slippage to about 0.2-0.3% of Gross Domestic Product (GDP) versus 0.5% earlier. They cite the Economic Stabilisation Fund, reduced subsidy burden, partial excise duty rollback, and faster divestment as key supports, while noting remaining but manageable risks. Lower slippage risk with cheaper Oil “We think the risk of a slippage in the central government’s FY27 (year ending March 2027) fiscal deficit has eased to 0.2-0.3% of GDP, given the sharp fall in crude oil prices; we had previously estimated slippage risk at 0.5% of GDP (see At a Glance – India – Is the tide turning?). The central government has targeted the FY27 fiscal deficit at 4.3% of GDP.” “Likely lower losses from the excise duty cut, a lowe

The post India’s RBI renews anti crypto stance as tax reporting concerns persist appeared on BitcoinEthereumNews.com. India’s central bank has renewed its recommendation for a cryptocurrency policy leaning toward prohibition, while tax authorities have warned that offshore trading continues to make crypto tax enforcement difficult. Summary India’s central bank has again backed a cryptocurrency policy leaning toward prohibition while warning against bank exposure to crypto assets and private stablecoins. Tax authorities have said offshore exchanges, private wallets and peer to peer crypto trades continue to make tax reporting and enforcement more difficult. Internal government documents show India is still reviewing its long term crypto policy even as millions of investors continue to hold digital assets. According to internal government documents reviewed by Reuters, the Reserve Bank of India (RBI) has reiterated its long-standing position that cryptocurrencies and privately issued sta