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Forex Stock Exchange Forum  » Forex and Stock Trading English Forum » Cryptocurrency » India Bans Virtual Currencies!

India Bans Virtual Currencies!

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1attention Re: India Bans Virtual Currencies! Wed Dec 27, 2017 8:04 pm

Hinijo

Hinijo

As far as I know, they've got it made with crypto and with mining.

2attention India Bans Virtual Currencies! Sat Dec 09, 2017 9:28 am

Jacques70

Jacques70

The Reserve Bank of India (RBI) just warned investors against betting on bitcoin and other cryptocurrencies.The Indian bank was very straightforward, “…cautioning 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.”

Indian government has made public its discomfort with bitcoin before. A week ago, the finance minister Arun Jaitley said the country doesn’t recognize virtual currency as legal. Couple months ago, a committee organized by his ministry had recommended banning digital currencies because their potential use to launder money.

These warnings come right after bitcoin’s rise —more than 1,000% this year. In India, its price has almost doubled in a month, from Rs4.55 lakh ($7,070) at the beginning of November to Rs8.6 lakh yesterday. Meanwhile, rallying keep going against all warning signs, bitcoin is at a record high, having crossed the $12,000 mark today.

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