India Stablecoin Regulation

Stage: Live

Regulator: Reserve Bank of India (RBI) / Financial Intelligence Unit-India (FIU-IND)

India regulates virtual digital assets (including stablecoins) primarily through AML/CFT under PMLA and FIU-IND registration for service providers. There is no dedicated stablecoin licensing or reserve framework. RBI focuses on CBDC (e-Rupee) and cautions against private stablecoins for financial stability reasons. Recent developments include updated guidelines and potential consideration in Economic Survey 2025-2026.

Applicable Laws:

• Prevention of Money Laundering Act (PMLA) amendments for VDASPs - https://fiuindia.gov.in/pdfs/downloads/VDASP04072023.pdf
• FIU-IND AML & CFT Guidelines for VDAs - https://fiuindia.gov.in/pdfs/downloads/VDA08012026.pdf
• Finance Act 2025 (insertion of Section 285BAA) - https://thc.nic.in/Central%20Governmental%20Acts/Finance%20Act,%202025.pdf