As per local media reporting yesterday, Indian government is on its new way understanding and boosting cryptocurrencies along with the blockchain technology.
The Economic Times reports yesterday, citing “peopleknowingthe central bank’s plans,” the unit focuses on “research” of the phenomena, “to check what can be adopted or rejected.”
The reportscameas digital currencies remains taboo for thebanking sector in Indiaalong with RBI (Reserve Bank Of India)when the crypto related businesses were completely banned from the country.
According to thesomesources, however, theremight besigns in the coming futurethat will definitely amend these existing ban rules. The Economic Times quoted stating:
“As a regulator, theRBIadditionallyneeds toexplore newrisingareasto envisionwhatmay beadopted and what cannot.”
Mentioning further it stated:
“Afinancial organizationneeds tobeprimeto make newlaws and regulations. This new unit is on experimental basisand will definitelyevolve as the time flies.”