India’s Central Bank Renews Push for Crypto Ban: Report
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