Indian regulators mull banning crypto, citing CBDC benefits

Indian regulators are reportedly in favor of banning private cryptocurrencies like Bitcoin and Ether. According to the Hindustan Times, one official argued that central bank digital currencies (CBDCs) offer more benefits and fewer risks compared to cryptocurrencies, including stablecoins. This view emerged during discussions as the Indian government prepares a discussion paper on crypto. Another official suggested that restrictions or even a complete ban could be implemented. However, a final decision is set to be made after extensive further consultations.