RBI says it hasn't authorised use of Bitcoins

RBI says it hasn't authorised use of Bitcoins

 The Reserve Bank on Wednesday said it has not authorised dealings in or use of virtual currencies, and cautioned those investing in the instruments like Bitcoins.

“The Reserve Bank advises that it has not given any licence/authorisation to any entity/company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader etc. dealing with virtual currencies will be doing so at their own risk,” it said in a release.

Those investing in such virtual currencies are exposing themselves to potential financial, operational, legal, customer protection and security related risks, it warned.

The apex bank also drew attention to a December 2013 notification cautioning the investors against the same.

DH Newsletter Privacy Policy Get top news in your inbox daily
Comments (+)