“After suspending their operations for a few weeks amid growing regulatory glare, many bitcoin operators have cautiously resumed courting business from their clients and some new players have also come to fore in India.  The Reserve Bank last month had issued a warning against dealing in bitcoin and other virtual currencies due to various risks, including those related to money-laundering and cyber security, as such digital currencies are not backed by any assets or monetary authorities.  Besides, tax authorities and the Enforcement Directorate have also initiated action against some bitcoin operators in recent weeks, which resulted in many entities suspending their operations.”

http://economictimes.indiatimes.com/tech/internet/bitcoin-operators-resume-india-operations-cautiously/articleshow/28839575.cms

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