In a hint towards a possible shift in India’s cryptocurrency policy, Finance Minister Nirmala Sitharaman on Friday (October 3, 2025) said that countries would have to “prepare to engage” with stablecoins whether they welcome the change or not.

This comes at a time when the Ministry of Finance and the Reserve Bank of India have both voiced their reservations about private cryptocurrencies, or virtual digital assets (VDAs), as they are also called. India has not legalised these products in terms of regulation, but it does tax transactions that involve them.

The RBI, on the other hand, has lobbied hard to ban VDAs outright, while simultaneously launching pilot projects of its own Central Bank Digital Currency (CBDC). CBDCs are basically cryptocurrencies issued by central banks and that have

See Full Page