India’s government is considering adopting a stablecoin regulatory framework while the Reserve Bank of India urges a “cautious” approach.

The government of India may consider stablecoin regulations in its Economic Survey 2025-2026, while the Reserve Bank of India (RBI) takes a “cautious” approach to crypto and pushes for a central bank digital currency (CBDC), revealing a divergence in policy recommendations.

The government will “present its case” for stablecoins in the annual report published by India’s Ministry of Finance, which outlines key policy recommendations and the state of the economy, business publication MoneyControl reported, citing an official familiar with the matter.

However, the central bank continues to urge a “cautious” approach to stablecoins, according to RBI Governor ​Sanjay Malhotra. Speaking at the Delhi School of Economics on Thursday, he said:

Bitcoin struggles to hold the $90,000 support, and while charts angle toward further price downside, traders have turned their attention to the short liquidity at $98,000 to $100,000.

Key takeaway:

Bitcoin charts forecast further downside, but traders remain hopeful that a short squeeze to $98,000 will reverse the bearish trend.

Bitcoin (BTC) has been trending down alongside the broader crypto market since Nov. 3, dropping to a six-month low of $88,267 on Thursday. With key economic data expected on Thursday and Friday, markets could see volatile price swings toward key BTC price levels over the next few days.

The transition from Gary Gensler to Paul Atkins led to a significant decline in enforcement cases across the board, including those involving crypto companies.

Consulting company Cornerstone Research reported a significant drop in the number of enforcement actions implemented by the current leadership of the US Securities and Exchange Commission, compared to that under the previous administration.

In a report released on Wednesday, Cornerstone reported that, under SEC Chair Paul Atkins, the number of enforcement actions against public companies and their subsidiaries decreased by about 30% in fiscal year 2025 compared to those in fiscal year 2024.

The company said the data was “consistent with the general pattern for other fiscal years when the SEC administration changed,” referring to former Chair Gary Gensler.