India’s RBI Warns: CBDCs Must Replace Stablecoins to Prevent Financial Chaos

India’s central bank has warned that the growing use of privately issued stablecoins could threaten financial stability and undermine trust in money, arguing that central bank digital currencies should take precedence if countries want to avoid systemic risks. The warning came in the Reserve Bank of India’s latest Financial Stability Report, released this week, which reflects the collective view of India’s major financial regulators. RBI Warns Stablecoins Could Amplify Financial Stress; How? The RBI in ...