India’s Central Bank Did Not Establish Blockchain, Cryptocurrency Unit: Report

The Reserve Bank of India has denied the creation of a new internal unit dedicated to cryptocurrency, blockchain and artificial intelligence (AI) research.

In late August, India’s most-popular financial daily, the Economic Times, reported that the Reserve Bank of India (RBI) had formed a new unit for researching and even regulating disruptive technologies like blockchain. The unit had been operational for a month at the time, the report claimed after citing two anonymous sources purportedly aware of developments at the central bank.