Indian financial regulators continue to express significant reservations about the integration of cryptocurrencies into the country’s economic framework and believe there is no economic “upside” in making them regulated financial instruments, according to local media reports.
These statements by senior officials from the central bank underscore the government’s cautious approach, emphasizing the potential threats these digital assets pose to macroeconomic stability in both emerging and developed markets.
Limited benefits
Central bank officials told local media that digital assets in their current form provide limited benefits as regulated financial instruments and should not be integrated into the financial system.
They further stated that cryptocurrencies are more akin to high-risk gambling products due to their inherent volatility and speculative nature. This perspective aligns with the broader skepticism seen globally regarding the adoption of cryptocurrencies in mainstream
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