They’ve sparked concerns of money laundering, terrorist financing and drug trafficking. Digital currencies are worth around $90 billion, down from a market capitalization of $115 billion on 14 June, according to data from Coinmarketcap.com. “Government is worried about usage of digital currencies by criminals, money laundering and protection of customers. Potential risksWhile Japan has legitimized virtual digital currencies, the UK, the US and Australia classify it as property that attracts capital-gains tax. However, the Reserve Bank of India (RBI) has repeatedly warned users, holders and traders of virtual currencies against the potential risks.

Source: Mint July 14, 2017 08:15 UTC