A day after the Bitcoin
surged a new height at $11,000 on Luxembourg based Bitstamp Exchange, the Reserve Bank of India
notify it’s concern about cryptocurrency to the users, holders & traders of Virtual Currencies(VC) including Bitcoin regarding the protection & security related fear associated In dealing with such virtual currencies.
As a medium of payment not authorized & sanctioned by any central, regulatory body no such approval, enrollment was registered for carrying such activities.
Virtual Currencies is being in form of digital wallet. Therefore, the fear of losses due to hacking, loss of password, malware attack etc. The loss of e-wallet results in permanent loss of virtual currency, stated by RBI.
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