RBI Backs Distributed Ledger Tech While Maintaining Cautious Crypto Stance

3 Oct 2026, 4:31 pm · 4h ago · 1 min read · YourStory

Reserve Bank of India Governor Sanjay Malhotra reiterated India's cautious approach toward cryptocurrencies while actively supporting underlying technologies like distributed ledgers and tokenisation. Speaking at the Kautilya Economic Conclave, Malhotra noted that while the central bank leverages distributed ledger technology in public-private partnership models, cryptocurrencies present risks to monetary sovereignty, policy execution, and capital flow restrictions. He emphasized that domestic payment systems are already fast and affordable, suggesting that cross-border transaction frictions can be resolved using central bank digital currencies rather than private cryptocurrencies amid rising global debt and hardening bond yields.