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Reserve Bank of India backs CBDCs as it warns global peers of stablecoin risks – TON BOT

Reserve Bank of India backs CBDCs as it warns global peers of stablecoin risks

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The Reserve Bank of India is urging major economies to prioritize the development of central bank digital currencies over stablecoins due to concerns about financial stability and monetary sovereignty. The RBI believes that CBDCs maintain the “singleness of money” and the integrity of the financial system, offering superior benefits compared to stablecoins. Adoption of CBDCs has been slow globally, with only three launched so far, while the stablecoin market has seen significant growth with dedicated regulatory frameworks in major economies supporting their development and adoption.

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