During the press conference held with the key decision makers of RBI, after the announcements made during the Monetary Policy Committee’s speech, Deputy Governor, T Rabi Sankar asserted that regardless of Trump’s stance on Crypto, RBI’s stance on crypto will not change.
“Our understanding of crypto will not change because some policy has been taken by some country on it, so that remains unchanged. That is our stand.” he said
“Having said that, as some of you may be aware, there is a group that is looking at what the country’s approach to cryptocurrencies will be, and that group will give its recommendations, based on which decisions will be taken by the government, and we’ll all follow that,” he added.
As per the latest Financial Stability Report (FSR) released by the RBI highlights risks like liquidity mismatches, leverage, asset pricing issues, and operational weaknesses. It reviews stablecoin regulations, noting enforcement challenges and cross-border issues.
“Two months is too short a window. Banks will be given enough time, implementation will be phased, and regulations won’t kick in from the first day. There is time until at least March 31, 2026,” said RBI Governor Sanjay Malhotra. He added that the impact analysis of the Liquidity Coverage Ratio (LCR) framework conducted by the RBI is being revised based on feedback from various stakeholders.
“Inconsistency in thresholds to identify a systemically important stablecoin (e.g., an advanced economy versus a small open emerging economy) remains a unique cross-border regulatory and supervisory challenge,” stated the report.
