A month ago, Naimish Sanghvi filed a RTI to know RBI’s much-hyped move of curbing crypto and Blockchain activities in India. RBI has finally answered back and this time, it has something different to say. It clearly denies of having any plan of choking crypto traders or Blockchain activists.

Sanghvi got a reply from RBI months later. There, the RBI has clearly rejected the false hypes about its action on Blockchain and Cryptocurrencies. RBI has stated that they had not formed any unit formally yet to keep a tap on activities revolving around distributed ledger or Cryptocurrencies.

An article by the Economic Times published on 27th August 2018 created all the buzz. There it was alleged that RBI had formed a new unit within the central bank. Its purpose is to sober up its own intangible properties against emerging technologies. The news opined the idea behind the new research unit. It said the team will research and will possibly outline the rules on curbing crypto activities. Moreover, the team’s responsibility would be to administer new looming technologies in the future.

Though the authenticity of the news is yet to be confirmed, the insistence of RBI in this topic cannot be avoided. RBI has earlier stressed for monitoring the development of crypto. In its Annual Report also the central bank has confirmed that it is keeping a strict watch on cryptocurrency.

Replying to previous reports, RBI has shut down any context on the formation of a unit to research on Blockchain.