The Reserve Bank of India (RBI) has reiterated its support for a crypto policy, which is “leaning towards prohibition,” according to internal government documents reviewed by Reuters.
They show that the institution continues to be concerned about financial stability, monetary sovereignty, and the role of privately issued stablecoins.
According to the report, the RBI said that banks and financial institutions should be prohibited from holding, trading, or gaining any exposure to cryptocurrencies and to privately issued stablecoins (such as USDT and USDC). The bank also considers a prohibition a means of keeping digital assets outside the regulated financial system and reducing further risks.
RBI also flags stablecoins as a specific concern. The main stance is that foreign currency-pegged coins could pose a risk to domestic monetary sovereignty, while rupee-backed stablecoins could affect the government’s income from issuing fiat currency and create problems for financial stability during periods of stress.
It’s important to note that India hasn’t fully banned crypto trading. However, the sector remains in a regulatory grey zone. Major lenders generally avoid direct crypto exposure after receiving multiple warnings from the central bank, even though there is no direct prohibition on dealing in digital assets.
The country’s tax department also warned that crypto transactions are becoming a lot harder to track – in a separate statement. This is particularly true when transactions are routed through offshore exchanges, peer-to-peer rupee trades, or originate from private self-custody wallets.
The department found that fewer than a quarter of 645,000 individuals who made crypto transactions who made any kind of crypto transactions back in 2023 reported them on their tax returns.
India currently taxes crypto gains at 30%. However, overseas platforms, valuation gaps, and unclear ownership tend to complicate compliance, according to officials.
The post India’s Central Bank Renews Push for Crypto Ban: Report appeared first on CryptoPotato.
小靓分析：
🦊 小靓解读
印度央行再次施压全面禁止加密货币，尤其针对USDT等私人稳定币，这反映出新兴市场国家对资本外流和货币主权的高度警惕。不过印度此前类似提案屡遭拖延，这次能否落地仍存疑。
📊 市场影响
短期对印度本地交易所和USDT交易对构成利空，但全球市场影响有限——印度加密交易量仅占全球不到1%。若禁令通过，可能促使印度用户转向DEX和P2P渠道，反而强化去中心化叙事。
💡 操作建议
持有USDT的印度用户需提前准备OTC或跨链通道，非印度交易者无需过度反应。建议关注7月底印度议会审议进展，若出现正式法案草案，可适当降低新兴市场币种持仓比例。
风险提示：
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