Partially. The recognition of digital assets and virtual currencies under recent regulatory proposals (like taxation in Budget 2022 and draft crypto bills) shows a regulatory acknowledgment, but it does not fully align with the Reserve Bank of India’s (RBI) statutory mandate.

???? The RBI has consistently opposed private cryptocurrencies, citing risks to:
• Monetary policy control
• Financial stability
• Consumer protection

???? RBI’s mandate under the RBI Act, 1934 and Payment and Settlement Systems Act, 2007 gives it authority over currency and payment systems, but virtual currencies are not legal tender.

???? Meanwhile, the government’s steps (like taxing crypto at 30%) signal recognition as digital assets, not as currency, creating a regulatory grey area.

Yes, The Reserve Bank of India's (RBI) statutory mandate focuses on ensuring financial stability and consumer protection.In the recent regulatory proposals on digital assets and virtual currencies seek to address these concerns by defining clear guidelines. If the proposals include measures for safeguarding against financial risks, they likely align with the RBI's objectives. However, their compatibility depends on the specifics of the proposals, especially regarding security, transparency, and market stability.