Back in August, two sources quoted by India’s Economic Times said the Reserve Bank of India had formed a panel the previous month to study “emerging” technologies including cryptocurrencies, blockchain and artificial intelligence.

Turns out the central bank, which banned cryptocurrencies in July, isn’t doing anything of the sort.

Coin Crunch India reported it had filed a formal Right to Information (RTI) request with the Reserve Bank to find out whether those two unnamed sources were accurate. It took a month but the publication got its answer: No.

“There is no new unit created formally in RBI for the purpose (Cryptocurrency, Blockchain and Artificial Intelligence) mentioned in RTI query,” according to the bank. “Therefore there is no information to furnish in the matter.”

Whether this statement is actually true, there are others in India looking into digital currencies and blockchain technology. For instance, the Securities and Exchange Board, the nation’s currency regulator, has been looking abroad for guidance on digital currency. Meanwhile, India’s Export-Import bank approved a blockchain research effort with other members of the BRICS bloc: Brazil, Russia, China and South Africa. Read more here.

ThirtyK Staff
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