“In the letter, Venugopal Badarawada threatens to approach the court if the bank fails to act within a month. He has asked the RBI to come up with a clear policy framework for regulating crypto currencies in India within a reasonable time, by immediately setting up a committee of experts from relevant fields such as information technology, finance law, economics, foreign trade and exchange etc.  Badarawada points out that the RBI has not made any statement whatsoever explaining under which provision of law the usage of a virtual currency is illegal. There is also a serious concern as to what aspects of FEMA apply to buying and selling of virtual currencies.”

http://www.medianama.com/2014/01/223-rbi-legal-bitcoin-india/

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy