Indian central bank officials say that legalizing cryptocurrency will not benefit the country's economy

ChainCatcher news, an official from the Reserve Bank of India stated to local media that it will continue to take a reserved attitude towards incorporating cryptocurrency into the country's economic framework, and believes that including it as a regulated financial instrument will not bring "benefits" to the economy. The Indian central bank official further stated that cryptocurrencies, due to their inherent volatility and speculative nature, are more akin to high-risk gambling products, a view that aligns with the global skepticism towards the adoption of cryptocurrencies in mainstream finance.

It is reported that the Reserve Bank of India's stance is an important consideration for the Indian government in formulating digital currency policy.