India's Parliamentary Finance Committee just wrapped a crypto meeting with RBI and ICAI. Chairman Bhartruhari Mahtab confirmed: RBI explicitly did NOT recommend giving legal tender status to cryptocurrencies.
This is the central bank's official position on the record. No legal framework, no regulatory blessing, just a hard pass on recognizing crypto as legitimate currency in India.
For context: India's been flip-flopping on crypto policy for years. This statement kills any near-term hope for institutional adoption or banking integration. If you're building crypto infrastructure targeting Indian users, you're still operating in regulatory limbo.
This is the central bank's official position on the record. No legal framework, no regulatory blessing, just a hard pass on recognizing crypto as legitimate currency in India.
For context: India's been flip-flopping on crypto policy for years. This statement kills any near-term hope for institutional adoption or banking integration. If you're building crypto infrastructure targeting Indian users, you're still operating in regulatory limbo.