India’s central bank wants lawmakers to wall off the banking sector from crypto. The Reserve Bank of India (RBI) told a parliamentary panel that digital assets should not serve as payment instruments.

The Parliamentary Standing Committee on Finance heard the testimony for its study on virtual digital assets. Lawmakers plan to table the report during the monsoon session.

Central Bank Pitches Crypto Containment in India

Committee members said the RBI argued for a containment strategy, not a conventional rulebook. The central bank believes formal regulation could legitimize speculative assets. It warned…