India’s RBI Flags Stablecoin Risks, Advocates Digital Rupee Priority

The Reserve Bank of India (RBI) warns that risks from stablecoins to macrofinancial stability outweigh their benefits. In its Financial Stability Report, RBI advocates prioritizing Central Bank Digital Currencies (CBDCs) like India's digital rupee over privately issued stablecoins to preserve trust in money and financial stability. RBI's Financial Stability Report explicitly states stablecoin risks exceed [...]