The Indian central bank is adopting a cautious approach towards cryptocurrencies and stablecoins, Reserve Bank of India Governor Sanjay Malhotra said on Thursday. "Stablecoins, cryptos, they have a huge risk, and so we are adopting a very cautious approach towards it," he said in a memorial lecture delivered at the Delhi School of Economics. "But at the same time, when it comes to digital innovations like UPI (unified payments interface) or digital lending, our stance has been very accommodative and very enabling." The rising popularity of U.S. dollar stablecoins will be an important phenomenon next year and could ... (full story)