India's government is hesitant to fully regulate cryptocurrencies, with concerns over the potential systemic risks they could pose to the country's financial stability. A recently leaked government document reveals that India's central bank, the Reserve Bank of India (RBI), believes that the risks associated with cryptocurrencies cannot be effectively mitigated through regulation. Instead of fully integrating digital assets into the mainstream financial system, the Indian government prefers a more limited oversight approach to avoid legitimizing a sector that could pose significant risks. This cautious stance comes ... (full story)