News

India is finally drafting a crypto framework-discussion paper coming July 2025. Focus? Stablecoins. 

By Mukesh Prajapati

July 01, 2025

What’s in the Upcoming Paper? 

The paper will outline crypto definitions, risks, and rules—especially around stablecoin circulation. 

Why Are Stablecoins Under the Lens?  

India sees stablecoins as high-risk for currency stability, illicit finance, and economic control loss. 

Are Stablecoins Competing with INR? 

Authorities worry stablecoins could replace INR in remittances or trade—causing monetary risks. 

CBDC vs Stablecoins: A Battle Ahead?  

India’s digital rupee (CBDC) is in pilot mode—govt may promote it as safer vs private stablecoins. 

Industry Wants Clarity, Not Bans

India’s crypto firms hope for clear rules—not restrictions—on stablecoins to support innovation. 

Global Influence on India’s Policy 

India is studying the US, EU, and G20’s approach to stablecoins—could align with global frameworks. 

What to Expect in July’s Paper 

Experts say India may propose guardrails on wallet KYC, remittance caps, or licensing for issuers. 

The Future of Stablecoins in India 

India’s July paper could define how crypto evolves here—especially stablecoins. Eyes on the rollout.