Odaily Planet Daily News: The Securities and Exchange Board of India (SEBI) recommends that multiple regulators jointly regulate cryptocurrency transactions. This position is in sharp contrast to the position of the Reserve Bank of India (RBI), which believes that private digital currencies represent macroeconomic risks. India has taken a tough stance on cryptocurrencies since 2018, when the Reserve Bank of India banned lenders and other financial intermediaries from dealing with crypto users or exchanges, but the move was later rejected by the Supreme Court. According to a person with direct knowledge of the group's discussions, the Reserve Bank of India still supports a ban on stablecoins. However, in its submission to the government panel, SEBI suggested that different regulators should oversee activities related to cryptocurrencies that fall under their jurisdiction and should avoid establishing a single unified regulator for digital assets. (Reuters)