According to Kashif Raza, India’s central bank RBI warns that stablecoins can create financial risks and says CBDCs can help keep the financial system stable, source: Kashif Raza on X, Jan 2, 2026. This signals a policy preference toward CBDC over private stablecoins in India, a headline traders monitor for potential effects on stablecoin usage and local crypto flows, source: Kashif Raza on X, Jan 2, 2026.