Amid the continuing cryptocurrencies controversies and trading ban in India, the country’s central bank has set up a blockchain unit.
According to a report from The Economic Times news outlet, the Reserve Bank of India (RBI) set up a unit focused on blockchain and artificial intelligence about a month ago. The goal of the new department is to beef up the c-bank’s knowledge on the emerging financial technologies and possibly draft regulations and rules for them in the future.
“As a regulator, the RBI also has to explore new emerging areas to check what can be adopted and what cannot. A central bank has to be on top to create regulations. This new unit is on an experimental bas...
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