“The Reserve Bank of India, on Tuesday, warned the public against the use of virtual currencies such as Bitcoin, pointing out that users expose themselves to potential financial, legal and security related risks. The public advisory comes after the borderless digital currency has begun to gain widespread acceptance in India, despite poor Internet penetration and a natural scepticism to assets not backed by tangible entities such as land. In its list of potential risks, the apex bank highlights problems such as losses arising out of hacking, no sources of customer recourse and the general financial volatility surrounding Bitcoins.”
http://www.thehindu.com/business/Economy/rbi-warns-against-bitcoin-use-in-india/article5497653.ece
Related posts:
BBC Glenn Greenwald full interview on Snowden, NSA, GCHQ and spying
Judge rules 15-year-old must pay $36 million to government for sparking wildfire
French special forces ‘to protect’ Niger uranium mines
India plans $70 million mission to Mars in 2013
U.S. to Commit $500 Million, Deploy 3,000 Troops in Ebola Fight
Goebbels love letters and fiction go to auction
Bitcoins are like 'glass beads', warns Danish national bank
Big changes planned for Iraqi stock markets
Boy, 6, gets detention for Lego gun on bus
Americans don’t want U.S. military strike against Syria, poll finds
NSA routinely spied on phone records unrelated to terrorism cases
BitPay Drives Explosive Growth in Bitcoin Commerce
What It’s Like to Live in a Surveillance State
Bitcoins cannot be used in Russia - Prosecutor General’s Office
Kansas rallies behind teacher facing deportation after 30+ years