Odaily Planet Daily News: In its December Financial Stability Report, the Reserve Bank of India (RBI) stated that countries should prioritize the development of central bank digital currencies (CBDCs) over privately issued stablecoins. This is because CBDCs can maintain monetary uniformity and the integrity of the financial system, and should serve as the ultimate settlement asset and anchor of monetary trust. The report noted that stablecoins could introduce new financial stability risks during periods of market stress, while CBDCs offer the efficiency, programmability, and real-time settlement advantages, along with the credibility and security of central bank money. The RBI emphasized that sovereign digital infrastructure should be prioritized to safeguard monetary sovereignty and financial stability. Currently, only Nigeria, the Bahamas, and Jamaica have successfully launched CBDCs. Additionally, the Indian government mentioned in its 2025-2026 Economic Survey that it is considering regulation for stablecoins, while the RBI maintains a cautious stance toward crypto assets. (Cointelegraph)
India's RBI Urges Prioritization of CBDCs Over Stablecoins
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India's Reserve Bank of India (RBI) highlighted in its December financial stability report that central bank digital currencies (CBDCs) should be prioritized over stablecoins, emphasizing the importance of monetary unity and system integrity. The report pointed out that stablecoins could pose potential risks during periods of market stress, while CBDCs offer real-time settlement and the credibility of the central bank. The RBI stressed the need for sovereign digital infrastructure to ensure compliance with counter-financing of terrorism (CFT) and digital asset regulations. With only three countries having launched CBDCs, India is currently evaluating stablecoin oversight in its 2025-2026 economic survey. The central bank continues to maintain a cautious stance toward crypto assets.
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