RBI CAUTIONING INVESTOR ABOUT BITCOIN

in rbi •  7 years ago 

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RBI India's central bank on 5th December 2017 has shared its concerns about Bitcoins, when it hit a record high of just under $11,800 that the bubble could burst in a spectacular fashion. The RBI had previously said those trading in virtual currencies were doing so at their own risk
But apart from that it is also true that it has not put a legal ban on its trading. It cannot do so since it is nor controlled by any central authority but a decentralized coin. It is still gaining momentum in India and is like to go up further in future. There are different platforms like UNOCOIN from you can buy BITCOINS but even if RBI Puts up a ban on trading in India it still has nothing to worry about because they will simply change the office from India to some other country and will continue to operate.
And as the momentum picks up it will . RBI will have to come up with alternative solution to recognize Bitcoin because to make the Digital India a success it has to accept Crytocutrrency as a means of transaction.

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