Business Standard

Virtual currencies prone to misuse: RBI

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Flagging possible “black money” risks from virtual currencies like Bitcoin, the RBI has told a parliament­ary panel that they are “susceptibl­e to misuse” by terrorists and fraudsters for laundering money. The central bank further said it has not given any licence and authorisat­ion to any entity or company to operate such schemes or deal with Bitcoin or any virtual currency (VC).

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