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India warns against investing in Bitcoin

Xinhua,December 08, 2017 Adjust font size:

NEW DELHI, Dec. 8 (Xinhua) -- India's central bank has warned people against investing in virtual currencies (VC) like Bitcoin.

In a recent statement, the Reserve Bank of India (RBI) has cautioned investors of "economic, financial, operational, legal, consumer protection and security--related risks" in VCs.

"In the wake of significant spurt in the valuation of many VCs and rapid growth in Initial Coin Offerings (ICOs), RBI reiterates the concerns," it said, referring to earlier warnings.

A cryptocurrency, Bitcoin's value crossed 15,000 U.S. dollars threshold on Thursday for the first time in its astounding ascent that puzzled watchers.

There are at least 11 online Indian Bitcoin trading platforms which claim that about 30,000 customers are actively trading at any given point of time. Enditem

 

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