[2017-03-03] BS: Bitcoin: Can RBI ignore the elephant in the room?

[polynesia]

Bitcoin: Can RBI ignore the elephant in the room?

http://www.business-standard.com/article/news-ians/bitcoin-can-rbi-ignore-the-elephant-in-the-room-117030300318_1.html

Virtual currencies like Bitcoin are all the rage in FinTech, and could potentially transform global commerce in the years ahead. Users are adopting them in the thousands each day and the value of trade in these currencies is witnessing unparalleled growth.

The world over, regulators are working out carefully-crafted regulations to foster Bitcoin growth. In India, however, even with the new cashless push by the government and existing Bitcoin trade spiking post-demonetisation, the Reserve Bank of India (RBI) continues to shy away from recognising and regulating virtual currencies.

On February 1, the RBI issued a yet another cautionary press release, on the back of an earlier one issued in December 2013, warning users of a risk they are likely to already be aware of -- that it (the RBI) does not regulate and has not licensed any virtual currencies in India, and anyone using them does so at their own risk.

[polynesia]

Covered by other publications in India as well

http://economictimes.indiatimes.com/small-biz/money/bitcoin-can-rbi-ignore-the-elephant-in-the-room/articleshow/57446968.cms
http://www.firstpost.com/business/bitcoin-how-long-can-rbi-ignore-the-elephant-in-the-room-3313224.html
http://www.zeebiz.com/india/news-bitcoin-can-rbi-ignore-the-elephant-in-the-room-13104