According to Reuters, the Securities and Exchange Board of India (SEBI) has suggested that multiple regulators jointly regulate cryptocurrency trading, while the Reserve Bank of India (RBI) believes that private virtual assets represent macroeconomic risks. Documents representing the positions of both parties have been submitted to a government panel that provides policy options to the Ministry of Finance. People familiar with the matter said that the Indian central bank still supports banning stablecoins and the panel plans to finalize its report as early as June.
