a government document shows that India is inclined not to enact comprehensive legislation to regulate domestic cryptocurrencies, but instead choose to maintain partial regulation, citing concerns that integrating digital assets into the mainstream financial system could pose systemic risks. The document quotes the views of the Reserve Bank of India, stating that it would be very difficult to control the risks of cryptocurrencies through regulation. The document prepared by the government this month points out that regulating cryptocurrencies in India would give them "legitimacy" and could "lead to systemic risks in the industry." In contrast, although a comprehensive ban can address the "concerning" risks posed by speculative cryptocurrency assets, the document adds that this approach cannot address transactions on peer-to-peer transfers or decentralized exchanges.