“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:
What telephone metadata can tell the authorities about you
Teen Faces Child Porn Charges For Tweeting Nude ‘Selfie’
CIA Begins Weapons Delivery To Syrian Rebels
California governor Jerry Brown intervenes to delay threatened BART strike
Bezos Paid a ‘Friendship Premium’ for the Washington Post
U.S. deficit now projected to top $1 trillion starting next year
Tens of thousands of government workers hired to roll out Obamacare
Switzerland tops World Economic Forum global competitive rankings
Japan's debt-funding costs to hit $257 billion next year
Mayor Bloomberg blames Virginia for many of New York’s gun crimes
Charles Ramsey Interview, Cleveland Man That Found Amanda Berry
Experts Increasingly Contemplate End Of Smoking
Overtaxed and over there
Golden trail: Dubai to Chennai via Delhi
Credit Suisse says it will liquidate the volatility security that lost 85% in a day