At the recent BFSI Summit in India, crypto industry leaders urged regulators to accelerate the rollout of framework around virtual assets, including a push for an Indian-rupee-backed stablecoin to reduce remittance costs and protect monetary sovereignty. They warned that if 97 % of stablecoins remain US-dollar-backed the rupee’s influence in global payments will weaken. The summit highlighted that global stable-coin circulation could hit US$2 trillion by 2030, prompting calls for India to move ahead of peers rather than play catch-up in digital-asset infrastructure.