Reserve Bank warns investors over trading of Bitcoins


New Delhi: Reserve Bank of India (RBI) reiterates its concern and warns the potential investors about trading of virtual currencies including Bitcoins.

It was in December 2013, when RBI had expressed its concern cautioning users, holders and traders of VCs regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with them.

In view of sudden rush for Bitcoins as its value rose phenomenally, the Central Bank issued fresh warning in this regard.

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It made it clear that RBI had not issued any licence or authorisation to any entity or company to operate such schemes or deal with Bitcoin or any VC.