The Reserve Bank of India (RBI) maintains a cautious attitude towards cryptoassets, despite the Supreme Court's ruling against the ban. The central bank emphasizes that cryptoassets could pose risks to financial stability and national monetary policy.
The government committee is conducting analysis and review of the issue, reflecting deep concerns about the potential impact that digital assets could bring to the economic ecosystem. Recommendations and solutions are being carefully evaluated.
Additionally, RBI has announced a new legal framework for cryptoassets, focusing on community consultation, impact analysis, and periodic review. This is an effort to build a flexible governance mechanism that can quickly adapt to constantly changing technological contexts.
A discussion document on cryptoasset management is expected to be published in June. This move indicates that India is transforming, moving towards a more multidimensional and comprehensive approach to cryptoassets, rather than simply banning or rigidly controlling them.
