The post Is India moving back towards a crypto ban? appeared on BitcoinEthereumNews.com.
India’s crypto policy appears to be moving backwards. This is an interestingly glum turn, especially as global markets push for better regulations. According to internal government documents, the Reserve Bank of India (RBI) is now actively for a policy that is “leaning towards (the) prohibition” of crypto. RBI’s push for a crypto ban The RBI has reportedly stated that banks and financial institutions should be barred from gaining exposure to cryptocurrencies and privately issued stablecoins. As per Reuters, the concern is that allowing regulated lenders to interact with crypto could bring chaos to the formal financial system. Another concern is that it would allegedly increase contagion risks. The RBI also believes that foreign currency-backed stablecoins are a threat to monetary sovereignty. Even the idea of rupee-backed tokens doesn’t have much support since there might be the risk of reducing th
The post Crypto India: RBI Reiterates Crypto Ban Call, but No Policy Change Announced appeared on BitcoinEthereumNews.com.
The post Crypto India: RBI Reiterates Crypto Ban Call, but No Policy Change Announced appeared first on Coinpedia Fintech News The Reserve Bank of India has reiterated its long-standing call for a cryptocurrency ban, according to Reuters. The RBI continues to cite risks to financial stability, monetary policy, and consumer protection. However, the central bank cannot impose a nationwide ban on its own. Any such measure would require approval from the Government of India and … Source: https://coinpedia.org/crypto-live-news/crypto-india-rbi-reiterates-crypto-ban-call-but-no-policy-change-announced/
The post India’s tax office backs RBI’s lean toward crypto prohibition appeared on BitcoinEthereumNews.com.
India’s Income Tax Department has thrown its weight behind the Reserve Bank of India’s push to restrict cryptocurrencies, citing widespread underreporting and the difficulty of tracing offshore trades, according to government documents reviewed by Reuters. The documents, dated May and June, show the central bank restating a position it has held for years. The RBI wants India’s policy on digital assets to be “leaning towards prohibition.” It also wants banks and other financial institutions barred from holding, trading, or taking any exposure to crypto or privately issued stablecoins, stating that such links could spread trouble across the country’s financial system. What is new is the tax department’s public backing. Officials told the government that trades routed through overseas exchanges are hard to monitor, which raises the risk of evasion. In the financial year that ended i
The post RBI Leans Toward Crypto Ban Despite India Boasting 39 Million Traders & $2.1B Holdings appeared on BitcoinEthereumNews.com.
The central bank of India continues its quest for an Indian crypto ban, increasing the pressure. The central bank of India is upping the ante on the crypto ban for India. The Reserve Bank of India (RBI) is advocating for a policy that “leans toward prohibition,” despite nearly 39 million Indian investors possessing approximately $2.1 billion in digital assets, internal government documents reveal on July 8, 2026. RBI Warns of Contagion Risks and Stablecoin Threats The RBI’s stance is more than just about the ban on cryptocurrencies in India. Both foreign-backed and rupee-pegged stablecoins have raised individual concerns for the central bank. The documents reviewed by Reuters suggest that the dollar-backed stablecoins could pose a threat to India’s monetary sovereignty. Rupee-backed tokens, the RBI cautioned, could also lead to a loss of seigniorage, or t
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 US Dollar: FOMC minutes to highlight hawkish debate – TD Securities appeared on BitcoinEthereumNews.com.
TD Securities strategists preview the June Federal Open Market Committee (FOMC) Minutes, expecting more insight into the policy debate than provided by Chair Warsh’s press conference. They highlight internal disagreement over whether policy is sufficiently restrictive as inflation risks rise, with many officials seeing scope for both hikes and a pause, and most potentially favoring renewed tightening if inflation continues to surprise higher. Minutes to reveal policy divisions “The June FOMC minutes may reveal more about the policy debate than Chair Warsh did at his press conference.” “The apparent “family fight” likely focused on whether policy was restrictive enough given rising inflation risks.” “While “many” participants likely saw a case for both hikes and holding steady this year, the Committee’s recent hawkish tilt suggests “most” could have favored renewed tightenin
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
