Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingCryptocurrency Regulation Trends
Tens of millions of Indians own cryptocurrencies, but the country\'s central bank wants these assets to be as far away as possible from the regulated financial system. Government documents reviewed by a news agency show that the Reserve Bank of India (RBI) is promoting a policy approach that tends to ban, even as digital assets have been officially recognized in other major economies.
According to estimates from the tax department, as of May 2026, India has nearly 39 million cryptocurrency investors holding approximately US$2.1 billion in digital assets. These user groups largely operate outside any clear legal framework, operating in a blank area where a 2020 Supreme Court ruling overturned an earlier ban on the Reserve Bank of India but did not provide alternative supervision. A draft bill in 2021 to ban private cryptocurrencies was never submitted to Parliament, and policy decisions have been repeatedly postponed.
The RBI wants banks to stay completely away from digital assets
The central bank\'s position outlined in the document is that banks and financial institutions should be prohibited from holding, trading or contacting any cryptocurrency assets. The Reserve Bank of India\'s concern is risk contagion: It wants to draw a clear line between the cryptocurrency market and the broader financial system, so that fluctuations in digital assets do not transmit pressure to banks or depositors.
印度储备银行将这种担忧延伸到两大类稳定币。它认为，与美元挂钩的代币可能会鼓励居民在银行体系之外持有外币工具，从而侵蚀国内货币主权。而与卢比挂钩的稳定币则引发了另一项警告：央行表示，这类代币可能减少政府铸币税收入，并在市场压力时期成为不稳定的源头。
税务部门在同一讨论中增加了合规维度。在截至2023年3月的财政年度中，64.5万名进行加密货币交易的个人中，只有不到四分之一的人在所得税申报中申报了这些收益。税务部门发现存在持有量申报不实的证据，并表示通过离岸交易所、私人钱包和以卢比计价的点对点平台进行的交易难以追踪，征税难度更大。
资本外逃担忧影响监管考量
印度外部经济状况也是政府谨慎态度的因素之一。该国大量进口能源需求，并存在持续的经常账户赤字。当与伊朗的紧张局势推高油价时，进口成本上升导致卢比跌至历史低点。当局认为，加密货币的广泛采用可能加速资本外流，尤其是通过绕过传统银行监管的点对点渠道。
The gap between the government\'s internal stance and public pronouncements has been a recurring feature of India\'s cryptocurrency policy. Officials openly talk about balancing innovation and risk management, but documents reviewed by a news agency show that the agency most directly responsible for financial stability and tax collection has not changed its fundamental stance. Reporters contacted the Reserve Bank of India for comment, but no response was received as of press time.
