RBI tells parliamentary panel cryptocurrencies should not be legalised in India, cites risks to economy
Published on: Thursday 02 July 2026
The Reserve Bank of India has reiterated its opposition to legalising cryptocurrencies, telling a parliamentary panel that virtual digital assets pose significant risks to an emerging economy and could facilitate illicit activities such as terror financing and narcotics smuggling. While the RBI highlighted global regulatory approaches, the Institute of Chartered Accountants of India advocated a comprehensive legal framework with clear accounting, auditing and disclosure standards for virtual digital assets.
News source: https://www.cnbctv18.com/economy/rbi-opposes-cryptocurrency-legalisation-india-parliamentary-panel-19937699.htm
