India’s central bank sounded bitcoin alarm again

nBankruptcy comment: Although the Indian government has not clearly demonstrated its attitude towards cryptocurrencies, but its central bank is really concerned about this area, recently again against the use of bitcoins, holdings and transactions raised a warning. Despite the news that Indian government agencies are already in the process of developing a regulatory framework for cryptocurrencies, no progress has been announced to the outside world. Therefore, the future of cryptocurrencies in India remains to be seen.n
nTranslation: Inan
The Reserve Bank of India (RBI) issued a new warning on cryptocurrencies, which is the second time it has made such a comment this year.n
In a brief statement issued December 5, the bank warned users, holders and traders of cryptocurrencies, especially bitcoin. RBI previously issued a statement in late 2013 and February this year reminding Indian citizens to be wary of this new thing.n
Like the previous statement, RBI also said this time that it has not licensed any Indian companies that are related to cryptocurrencies:n
n”RBI has clarified and clarified that it does not authorize any entity / company to run such programs or to handle bitcoin and any other digital currency.”n
nThe difference between this announcement and the previous two is that it also warned against the sale of ICOs or tokens, emphasizing the significant increase in the value of the entire cryptocurrency market.n
The bank said:n
n”As valuations by many venture capitalists have risen sharply and the ICO has grown rapidly, the RBI reiterated its concern in a press release earlier.”n
nIn this case, India’s cryptocurrency regulation is still not clear. As reported last month, the Supreme Court of India has demanded that the government clearly express its attitude towards cryptocurrencies on the basis of people’s requests. Officials from some government agencies are developing a regulatory framework for cryptocurrencies, but so far no official policy has been announced.n
The RBI also did not immediately respond to our request to comment on this new statement.n

Leave a Reply

Your email address will not be published. Required fields are marked *