1 August 2026
Reserve Bank of India Favors Complete Ban On Cryptocurrencies
Once again, the Indian Crypto community is worried over the news of a potential blanket ban on digital currencies. Although, it’s not clear yet whether the latest news is another FUD or the government is serious about considering a complete ban on Cryptocurrency in India.
Economic Times reported the Reserve Bank of India (RBI) has said in a meeting with a central board that a ban on Cryptocurrencies needs to be total and partial restrictions will not work. RBI states that Cryptocurrency poses a threat to financial stability and macroeconomics, as well as exchange management.
The central bank also highlighted issues such as anonymous transactions and regulation of “intangible assets that originate overseas.” However, one of the board members, Sachin Chaturvedi, cautioned policymakers over taking extreme steps and risks involving global cut-off.
A few days back, during an event, Indian Finance minister Nirmala Sitharaman talked about steps authorities may take to regulate Cryptocurrencies. Sitharaman said that “technology has the power to sweep through borders”, hence, mere national measures will hardly matter if regulators around the world aspire to centralise the decentralized industry. She also mentioned concerns over the “ever-evolving” Crypto, which makes it difficult for the government to stay ahead of them at all times.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice
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