India's central bank backs crypto rules that could effectively ban the sector, Reuters reports

Reuters reports India's central bank is advocating a crypto policy leaning toward prohibition. A restrictive stance in a major emerging market raises regulatory and access risk for exchanges, onshore liquidity, and retail participation, potentially tightening fiat on/off-ramps and dampening sentiment across large-cap crypto. While not yet a final policy action, the signal increases perceived regulatory headwinds in Asia.