Reserve Bank of India: Countries should prioritize the development of CBDCs over stablecoins

The Reserve Bank of India (RBI) stated in its December Financial Stability Report that countries should prioritize the development of central bank digital currencies (CBDCs) over privately issued stablecoins, as CBDCs can maintain monetary unity and the integrity of the financial system, and should serve as the ultimate settlement asset and anchor of monetary trust. The report points out that stablecoins may pose new financial stability risks during periods of market stress, while CBDCs offer advantages such as efficiency, programmability, and instant settlement, while retaining the credibility and security of central bank currency. The RBI emphasizes that building sovereign digital infrastructure should be prioritized to maintain monetary sovereignty and financial stability. Currently, only Nigeria, the Bahamas, and Jamaica have successfully launched CBDCs. Furthermore, the Indian government indicated in its 2025-2026 economic survey that it is considering stablecoin regulation, while the RBI maintains a cautious stance on crypto assets. (Cointelegraph)