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 “people knowing the central bank’s plans,” the unit focuses on “research” of the phenomena, “to check what can be adopted or rejected.”
The reports came as digital currencies remains taboo for the banking sector in India along with RBI (Reserve Bank Of India) when the crypto related businesses were completely banned from the country.
According to the some sources, however, there might be signs in the coming future that will definitely amend these existing ban rules. The Economic Times quoted stating:
“As a regulator, the RBI additionally needs to explore new rising areas to envision what may be adopted and what cannot.”
Mentioning further it stated:
“A financial organization needs to be prime to make new laws and regulations. This new unit is on experimental basis and will definitely evolve as the time flies.”