The team issued a lengthy statement over the Valencia Grand Prix weekend denying reports that its place on the grid was in jeopardy due to financial issues.
In a press conference on Saturday night, representatives of CryptoDATA called the rumours “fake news” and insisted all was well within the team.
It said that a takeover offer was rejected two weeks ago and that team principal Razlan Razali was stepping down, claiming it had been decided over a month ago, due to poor financial decisions.
RNF also denied owing any money to suppliers, including Aprilia, and insisted it had a contract in place until 2026.
However, on Monday, the MotoGP Selection Committee, comprising members of FIM, IRTA and Dorna Sports, said they had decided not to select the team for the 2024 season.
It will review applications for a new Independent Team, using Aprilia machinery, to join the grid instead.
A statement said: “The MotoGP Selection Committee, comprising members of FIM, IRTA and Dorna Sports, have decided not to select the CryptoDATA RNF MotoGP Team for the 2024 season.
“Repeated infractions and breaches of the Participation Agreement affecting the public image of MotoGP have obliged this decision.
“The Selection Committee will be reviewing applications for a new Independent Team, using Aprilia machinery, to join the MotoGP class grid for 2024.”
The team and Aprilia are yet to comment on the statement, which came the day before the first 2024 pre-season test at Circuit Ricardo Tormo.
The RNF team came into existence at the end of 2021 following Petronas and the Sepang Racing Team's decision to quit MotoGP at the conclusion of that season.
Former SRT team boss Razali became the owner of RNF, which fielded Yamaha bikes in 2022 before linking up with Aprilia for this season.
For 2023, RNF took on a title partnership with Romanian firm CryptoDATA, while Razali sold a majority stake in his team to the company.
The team has achieved largely poor results however. RNF finished 11th of the 12 teams in 2022 and eighth out of 11 outfits this season.
