India Resists Full Crypto Regulation, Citing Systemic Risks

A government document, cited by multiple reports, indicates that India is refraining from introducing a comprehensive crypto law. The document highlights concerns from the Reserve Bank of India that wide-scale regulation could trigger systemic risks and financial instability. Instead, the government is adopting a cautious approach, enforcing limited oversight that includes mandatory local registration for foreign crypto exchanges and stringent compliance requirements to curb money laundering, fraud, and illicit financial activity.