According to current reports, India’s Central Bank still controverts the fact of “formal creation” of a blockchain unit in order to learn more about AI and the blockchain technology.
A few weeks ago the central bank of India was accused of having created the unit mentioned above to “study and possibly draft rules” for the blockchain technology.
Coin Crunch India had conducted a research on this matter and a clarification from RBI was published only weeks after the first rumors leaked to the Internet. The head of Coin Crunch India, NaimishSanghvi, sent a request to RBI asking for more details about the matter, who was researching unit etc. The answer was as follows: “There’s no unit formally created for the aim mentioned in the query”.
So, nevertheless RBI seems to have developed a unit in order “to introduce a Central bank digital currency”, its stance on crypto still hasn’t changed a bit. In April RBI ordered banks to put on holdall operations on crypto businesses, which shook the Indian industry and caused a huge scandal with many counter petitions having been sent to the Supreme Court.
The case has currently been postponed and supposed to be forthcoming.