India Might Soon Issue a Bitcoin-Related Warning
By now, we have already heard that both China and France have issued public warnings against digital currency bitcoin. The next country that might jump on to the bandwagon is India, according to an IndiaTimes report. The concern is the very selling point of bitcoin - the fact that it isn't regulated or controlled by a central authority. In addition, officials think the public are subject to being scammed (as if to say the whole bitcoin ecosystem is a ponzi scheme). "At least a public advisory may be issued soon to warn against possible risks associated with Bitcoins," said a senior....
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The press release issued on Wednesday by Chief General Manager Jose J. Kattoor cautioned the holders of digital currencies against the potential security and customer protection related risks. The increased traction gained by Bitcoin in India as a result of the recent events including demonetization has caused the Reserve Bank of India (RBI) to issue a warning against the use of digital currencies, particularly Bitcoin. The press release issued on Wednesday by Chief General Manager Jose J. Kattoor cautioned the holders of digital currencies against the potential security and customer....
The Reserve Bank of India has recently issued a notification against the use of Bitcoin, stating various risks associated with it. The traditional banking and financial sector is filled with hypocrites. On one hand, these institutions want to implement the distributed ledger technology introduced by Bitcoin, whereas on the other they don’t want to accept Bitcoin for what it is. The Reserve Bank of India has just proven it by issuing a warning against the use of Bitcoin. It is the second such warning against Bitcoin issued by the Reserve Bank of India. The recent notification follows the....
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