Wednesday, December 6, 2017

RBI issues warning on cryptocurrencies

Reserve Bank of India has called on those trading in Bitcoins and other virtual currencies regarding the risks involved in the same.

The central bank in an official release cautioned users, holders and traders of Virtual Currencies (VCs) including Bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs.

The RBI also clarified that it has not given any licence or authorisation to any entity or company to operate schemes or deal with Bitcoin or any other VC.

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