The Press Information Bureau (PIB) on Wednesday, dispelled rumours regarding the Ministry Of Finance mulling the regulation of cryptocurrency via an 'X' post from its official account.
The false claim stated that the Finance Ministry had informed the Reserve Bank of India (RBI) and Securities & Exchange Board of India (SEBI) to examine the possibility of regulating cryptocurrency.
"A social media post claims that the Ministry of Finance has asked the Reserve Bank of India (RBI) and Securities & Exchange Board of India (SEBI) to consider regulating crypto. This claim is fake," the post said.
The regulation of cryptocurrency comes with the implicit recognition of it as an asset, which is not currently the case in India.
"India does not recognise crypto as an asset. No such directions have been passed by the Ministry of Finance," the post said.
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It further urged netizens to solely rely on official sources for verified information.
This development comes at a time where cryptocurrency markets are facing notable volatility ever since falling nearly 50% from its October 2025 record high of $126,000 on June 25, 2026. This dip was in the face of recession fears and elevated geopolitical tensions. This led to institutional capital rotating out of crypto and back into traditional safe havens like US Treasuries and physical gold.
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