The Reserve Bank of India (RBI) has formed a unit to study new technologies, including blockchain, cryptocurrency and artificial intelligence. This is reported by The Economic Times with reference to a source familiar with the plans of the regulator.
As the newspaper notes, the newly created group will probably be engaged in developing technology-related bills and will monitor the introduction of innovations in the country in the future. Official commentsfrom RBI have not yet been received.
By September the Supreme Court of India will issue a set of bills regulating the cryptocurrency industry. An official from the Ministry of Finance said that future regulations will not include a direct ban on crypto-currencies.
Despite the uncertainty of the cryptocurrency regulation in India, in July the Huobi exchange announced the launch of the P2P platform for trading digital assets in a pair with the rupee.