The Reserve Financial institution of India (RBI) has responded to a question about why it moved to dam banks from coping with cryptocurrency companies earlier this 12 months – however the reply is not very telling.
Shri Varun Sethi, who presents himself as a “blockchain lawyer,” requested clarifications from RBI beneath the nation’s Proper to Data Act. In keeping with the solutions offered, the choice did not outcome from any form of particular analysis or deliberation by the regulator.
For instance, officers support “no” when requested whether or not the central financial institution had convened a fee to discover the character
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