A report from the Economic Times has indicated that “people familiar with the central bank’s plans,” has disclosed that the unit focuses on “research” of the phenomena, “to check what can be adopted and what cannot.”

The reports arrive as cryptocurrency remains outlawed by Indian banks after the Reserve Bank of India (RBI) prohibited them from servicing industry businesses in April.

Despite a slight wrinkle that allows for cryptographic tokens, official endorsement of Bitcoin and its ilk remains absent.

Sources, however, have said that there could be signs this is about to change.

“As a regulator, the RBI also has to explore new emerging areas to check what can be adopted and what cannot,” The report quoted the source as saying:

“A central bank has to be on top to create regulations. This new unit is on an experimental basis and will evolve as time passes.”

India would further echo existing sentiment in Iran by relaxing its stance, the latter’s central bank suggesting over the weekend it would evaluate its cryptocurrency ban, also in place since April, with a more favorable outcome.