RBI renews push for tighter crypto restrictions, citing banking and tax evasion concerns

India’s central bank, the Reserve Bank of India (RBI), has renewed its recommendation for a cryptocurrency policy that leans toward prohibition, according to reporting that cites internal government documents reviewed by Reuters. The renewed stance is linked to concerns about tax reporting and compliance, with authorities warning that enforcing crypto rules is difficult when trading occurs offshore ^{[1] [2]}.

Additional coverage of the Reuters account says the RBI continues to favor restrictions on cryptocurrencies to curb tax evasion. The reporting also notes that regulators’ hawkish position persists despite the wider adoption of digital assets and blockchain technologies by governments globally ^[2].

Crypto-focused outlets further frame the development as part of a broader push that would limit banking access for crypto activity, describing the RBI’s approach as renewed and centered on enforcement challenges tied to taxes ^{[3] [4]}.

The RBI’s renewed prohibition-leaning recommendation underscores continued regulatory pressure in India, with tax enforcement—especially involving offshore activity—pointed to as a key concern by Reuters-cited documents ^{[1] [2]}.