The Ministry of Finance has clarified that bitcoins are not “currencies” and are not authorised by the government. Finance Minister Arun Jaitley also said that bitcoins are likely to be used for illegal activities, including terrorism, smuggling and drug trafficking. In addition, the Reserve Bank of India (RBI) has cautioned users against the use of bitcoins stating the same problems.
Nevertheless, bitcoin isn’t the only virtual currency. There are several other cryptocurrencies that have come into the market.
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Producer - Shubham Mishra
Editor - Satish Kumar
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