India's RBI just shut down crypto legal tender hopes. Committee Chairman Bhartruhari Mahtab confirmed the Reserve Bank of India officially does NOT recommend giving cryptocurrencies legal status in the country.
This isn't about banning trading or holding crypto—it's about preventing $BTC/$ETH from being recognized as legal tender alongside the rupee. India's been dancing around crypto regulation for years (remember the 2018 banking ban that got overturned?), but the central bank's stance remains: crypto = not money in their eyes.
For Indian devs and crypto users: you can still trade on exchanges, but forget about using crypto for everyday payments with legal backing. The regulatory limbo continues.
This isn't about banning trading or holding crypto—it's about preventing $BTC/$ETH from being recognized as legal tender alongside the rupee. India's been dancing around crypto regulation for years (remember the 2018 banking ban that got overturned?), but the central bank's stance remains: crypto = not money in their eyes.
For Indian devs and crypto users: you can still trade on exchanges, but forget about using crypto for everyday payments with legal backing. The regulatory limbo continues.