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India Resists Comprehensive Cryptocurrency Regulatory Framework, Concerned About Systemic Risks

Summary: According to Reuters, government documents show that India is leaning towards not enacting comprehensive regulations on cryptocurrencies, opting instead for partial regulation due to concerns that integrating digital assets into the mainstream financial system could pose systemic risks. The documents cited the views of the Reserve Bank of India (RBI), stating that controlling cryptocurrency risks ...

According to Reuters, government documents show that India is leaning towards not enacting comprehensive regulations on cryptocurrencies, opting instead for partial regulation due to concerns that integrating digital assets into the mainstream financial system could pose systemic risks. The documents cited the views of the Reserve Bank of India (RBI), stating that controlling cryptocurrency risks through regulation would be very challenging in practice.

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