[2016-09-27] Mint: Crypto-currencies: are they safe to use?

[polynesia]

Crypto-currencies: are they safe to use?

http://www.livemint.com/Money/8YNJV7GM3FLxjv2KiqeVrL/Cryptocurrencies-they-are-such-a-blur.html

On 19 September, a U.S. federal judge ruled that bitcoins qualify as money. This decision was linked to a criminal case where the accused hacked into the systems of JPMorgan Chase & Co and some other organisations, Reuters reported.

So, if you possess some bitcoins or are planning to venture into this space merely out of curiosity, you need to remember that as of now, crypto-currencies like bitcoins are not regulated in India.

Here is what you should know about bitcoins before you plan to hold some in your wallet. We also look at the regulations, cyber threats and taxation of crypto-currencies.