India Resists Comprehensive Cryptocurrency Regulatory Framework, Fearing Systemic Risks

BlockBeats News, September 10, according to Reuters, government documents show that India is leaning towards not enacting a comprehensive law to regulate cryptocurrency, but instead maintaining partial regulation, amid concerns that bringing digital assets into the mainstream financial system could pose systemic risks.

The document cited the views of the Reserve Bank of India (RBI), stating that in practice, controlling the risks of cryptocurrency through regulation would be very difficult.