Indian regulators are considering banning private cryptocurrencies like Bitcoin and Ethereum, advocating for Central Bank Digital Currencies (CBDCs) instead. As reported by local news publication The Hindustan Times, Indian government institutions are leaning towards a ban on private cryptocurrencies, citing CBDCs as a more favorable option that provides the same benefits for less risk. Anonymous officials have told the press that recent consultations on the topic have led to the conclusion that the risks outweigh the benefits when it comes to private cryptocurrencies. “CBDCs can do whatever cryptos do,” said one official.