On Tuesday, the Reserve Bank of India (RBI) issued its third warning about trading in virtual currencies such as bitcoin. The number of new users is doubling every three-four months on Indian trading platforms. On the other hand, a large majority of new participants are just chasing the price rise, which is a classic feature of a bubble. Perhaps not, some lawyers argue, because FEMA doesn’t talk about virtual currencies specifically. But while there are multiple risks, bitcoin has also given some traders the thrill of earning returns of 1600% in the past year.
Source: Mint December 07, 2017 02:26 UTC