In a recent development in the Indian crypto landscape, the use of cryptos is under intense scrutiny. Notably, three officials caution against potential threats to macroeconomic stability and the elevated risks they pose to both emerging markets and developed economies.
Meanwhile, the officials argue that, unlike central bank digital currencies (CBDCs), private cryptocurrencies should not be treated on par due to inherent risks associated with them.
India’s Crypto Conundrum
A recent report showed that officials from India are sounding a cautionary note, emphasizing the risks and challenges posed by cryptocurrencies to the country’s macroeconomic stability. Meanwhile, the Reserve Bank of India (RBI) holds a steadfast stance, backed by the International Monetary Fund-Financial Stability Board Synthesis Paper, advocating for stringent crypto regulations or even an outright ban, a Hindustan Times report suggested citing officials.
According to an official, who requested anonymity, invo

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