DPI Brief — July 09, 2026
DPI Brief — July 09, 2026 L2: RBI Reasserts Crypto Prohibition Stance; Digital Rupee Gets Parliamentary Review The Reserve Bank of India has doubled down on its long-standing opposition to cryptocurrencies, telling a parliamentary panel that India’s crypto policy should “lean towards prohibition” to keep virtual digital assets outside the regulated financial system. Government documents reviewed by Reuters reveal that the central bank’s position remains firmly against legalising crypto as currency. Meanwhile, the Income Tax Department flagged that trading via offshore exchanges is hard to monitor, with estimates suggesting India has nearly 39 million crypto traders holding approximately $2.1 billion in digital assets as of May 2026. ...