Central Bank of India is not going to study crypto, blockchain and AI

[Paha87]

The Central Bank of India has denied the creation of a unit for the study of cryptocurrency, blockchain and artificial intelligence, as reported by the media last month. The unit was to research, develop rules and monitor new technologies, as reported in the publications.

In recent months, there have been reports in the media that the Reserve Bank of India (RBI) has set up a research unit to study cryptocurrency, blockchain and artificial intelligence (AI). However, according to new reports, RBI has refused to set up a research group for this purpose.

On September 26, an article was published in Coin Crunch India stating that the Central Bank " denies the creation of a research group to study cryptocurrency, blockchain and artificial intelligence." The information comes from RBI's response to a request under the "Right to information" (RTI) submitted by the author, Naimish Sangvi. RTI allows any Indian citizen to request information from a public authority.

The RBI does not have a new unit created formally for the purposes mentioned in the RTI request. Therefore, there is no information to present in this matter.

Group, supposedly created by RBI
Reports on the new division of the Central Bank began to spread on August 27, when the economic Times published an article stating that"the Reserve Bank of India (RBI) has formed a new division to strengthen its own intellectual capital in the face of new technologies such as cryptocurrency, blockchain and artificial intelligence."

The news indicated at the time that the new unit would study and possibly develop rules and control new technologies in the future. Despite the fact that the existence of the above-mentioned unit will not exist, RBI stressed the need to monitor the development of the cryptosphere.

In its annual report published late last month, the Central Bank confirmed that it "is closely monitoring the cryptocurrency." And earlier, on April 6, RBI issued a circular prohibiting banks from providing services to the crypto-business, which prompted a number of industry participants to petition against the ban. The Supreme court of India was supposed to consider them on September 11, but the case was repeatedly postponed and the decision is not known at the moment.



Link to the source of information (Russian) - https://altstake.io/news/cb-indii-ne-sobiraetsya-izuchaty-kripto-blokcheyn-i-ii

[agusiska]

i think its funny, many crypto user like CEO or Advisor from some ico project was from that country, so why their central bank refused to study crypto, blockchain and AI, are they gonna banned crypto from their country too?

[Paha87]

i think its funny, many crypto user like CEO or Advisor from some ico project was from that country, so why their central bank refused to study crypto, blockchain and AI, are they gonna banned crypto from their country too?

I think they will tighten the requirements for some time. If they refuse this technology, then there are reasons for that. Early or late, they will change their attitude. Follow the news.